RPG Investment Advisory LLC cut its stake in Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Rating) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 86,157 shares of the transportation company's stock after selling 497 shares during the quarter. Westinghouse Air Brake Technologies comprises approximately 1.4% of RPG Investment Advisory LLC's investment portfolio, making the stock its 29th biggest position. RPG Investment Advisory LLC's holdings in Westinghouse Air Brake Technologies were worth $7,072,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC raised its holdings in Westinghouse Air Brake Technologies by 220.2% in the 1st quarter. NuWave Investment Management LLC now owns 333 shares of the transportation company's stock valued at $32,000 after acquiring an additional 229 shares in the last quarter. Vigilant Capital Management LLC acquired a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter worth $39,000. Van ECK Associates Corp raised its holdings in shares of Westinghouse Air Brake Technologies by 44.4% during the 1st quarter. Van ECK Associates Corp now owns 2,013 shares of the transportation company's stock worth $194,000 after buying an additional 619 shares in the last quarter. Private Capital Group LLC raised its holdings in shares of Westinghouse Air Brake Technologies by 33.4% during the 1st quarter. Private Capital Group LLC now owns 2,582 shares of the transportation company's stock worth $248,000 after buying an additional 647 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter worth $278,000. 89.09% of the stock is owned by institutional investors and hedge funds.
Get Westinghouse Air Brake Technologies alerts:Westinghouse Air Brake Technologies Price Performance
WAB traded down $0.23 on Thursday, reaching $87.84. The stock had a trading volume of 2,823 shares, compared to its average volume of 910,455. The firm has a 50-day moving average of $89.67 and a 200-day moving average of $89.17. Westinghouse Air Brake Technologies Co. has a fifty-two week low of $78.26 and a fifty-two week high of $100.04. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.36 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 (NYSE:WAB – Get Rating) last released its quarterly earnings results on Friday, August 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.01. Westinghouse Air Brake Technologies had a return on equity of 8.57% and a net margin of 7.99%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The business's revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Westinghouse Air Brake Technologies Co. will post 4.89 EPS for the current year.Westinghouse Air Brake Technologies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were given a $0.15 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.68%. Westinghouse Air Brake Technologies's dividend payout ratio (DPR) is presently 17.54%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on WAB shares. Morgan Stanley boosted their price target on 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. Raymond James started coverage on Westinghouse Air Brake Technologies in a report on Thursday, August 18th. They set an "outperform" rating and a $103.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.00.
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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