WASHINGTON TRUST Co reduced its position in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Rating) by 0.1% in the second quarter, HoldingsChannel.com reports. The firm owned 146,043 shares of the transportation company's stock after selling 134 shares during the period. WASHINGTON TRUST Co's holdings in Westinghouse Air Brake Technologies were worth $11,987,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. DNB Asset Management AS raised its stake in Westinghouse Air Brake Technologies by 8.2% in the first quarter. DNB Asset Management AS now owns 55,451 shares of the transportation company's stock worth $5,333,000 after buying an additional 4,193 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Westinghouse Air Brake Technologies during the first quarter valued at approximately $278,000. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Westinghouse Air Brake Technologies by 470.7% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,105 shares of the transportation company's stock valued at $3,127,000 after purchasing an additional 27,304 shares in the last quarter. Astrantus Ltd bought a new position in shares of Westinghouse Air Brake Technologies during the first quarter valued at approximately $324,000. Finally, Thompson Investment Management Inc. increased its stake in shares of Westinghouse Air Brake Technologies by 2.4% during the first quarter. Thompson Investment Management Inc. now owns 59,348 shares of the transportation company's stock valued at $5,708,000 after purchasing an additional 1,398 shares in the last quarter. 89.09% of the stock is currently owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
Several brokerages recently issued reports on WAB. Raymond James began coverage on shares of Westinghouse Air Brake Technologies in a report on Thursday, August 18th. They issued an "outperform" rating and a $103.00 target price on the stock. Morgan Stanley raised their target price on shares of Westinghouse Air Brake Technologies from $84.00 to $87.00 and gave the stock an "equal weight" rating in a report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Westinghouse Air Brake Technologies has an average rating of "Moderate Buy" and an average target price of $99.00.
Westinghouse Air Brake Technologies Trading Up 3.0 %
Shares of WAB stock traded up $2.54 during trading hours on Tuesday, reaching $87.06. 22,487 shares of the stock were exchanged, compared to its average volume of 838,114. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.47. The company has a current ratio of 1.27, a quick ratio of 0.67 and a debt-to-equity ratio of 0.40. Westinghouse Air Brake Technologies Co. has a 12-month low of $78.26 and a 12-month high of $100.04. The company's 50-day moving average price is $89.73 and its 200-day moving average price is $89.24.
Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last announced its earnings results on Friday, August 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.01. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.07 billion. Westinghouse Air Brake Technologies had a return on equity of 8.57% and a net margin of 7.99%. The business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. As a group, equities analysts anticipate that Westinghouse Air Brake Technologies Co. will post 4.89 earnings per share for the current year.
Westinghouse Air Brake Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were paid a $0.15 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.69%. Westinghouse Air Brake Technologies's dividend payout ratio (DPR) is 17.54%.
Westinghouse Air Brake Technologies Profile
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Westinghouse Air Brake Technologies Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates through two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new commuter locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.
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