CIBC Private Wealth Group LLC Has $3.67 Million Holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

CIBC Private Wealth Group LLC cut its holdings in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,194 shares of the transportation company’s stock after selling 524 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Westinghouse Air Brake Technologies were worth $3,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WAB. iA Global Asset Management Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 21.5% in the 3rd quarter. iA Global Asset Management Inc. now owns 18,613 shares of the transportation company’s stock valued at $3,383,000 after buying an additional 3,288 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Westinghouse Air Brake Technologies in the third quarter valued at approximately $386,000. Garde Capital Inc. acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $110,000. Lord Abbett & CO. LLC bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $24,630,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Westinghouse Air Brake Technologies by 2.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 20,459 shares of the transportation company’s stock worth $3,879,000 after acquiring an additional 532 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

WAB has been the topic of several research reports. StockNews.com downgraded shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Stephens reiterated an “overweight” rating and issued a $220.00 price target on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. Finally, Bank of America raised their price objective on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.33.

Insider Activity

In related news, CEO Rafael Santana sold 886 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $182.34, for a total value of $161,553.24. Following the transaction, the chief executive officer now owns 176,295 shares in the company, valued at $32,145,630.30. The trade was a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Stock Performance

NYSE:WAB opened at $186.03 on Thursday. The stock’s 50-day moving average is $190.38 and its 200-day moving average is $191.55. Westinghouse Air Brake Technologies Co. has a 1-year low of $143.22 and a 1-year high of $210.88. The company has a current ratio of 1.30, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34. The stock has a market cap of $31.78 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. Equities research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s payout ratio is 16.58%.

Westinghouse Air Brake Technologies Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.