Westinghouse Air Brake Technologies Co. (NYSE:WAB) Declares $0.17 Quarterly Dividend

Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Rating) declared a quarterly dividend on Wednesday, May 17th, RTT News reports. Stockholders of record on Tuesday, May 30th will be paid a dividend of 0.17 per share by the transportation company on Friday, June 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, May 26th.

Westinghouse Air Brake Technologies has a dividend payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Westinghouse Air Brake Technologies to earn $5.98 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 11.4%.

Westinghouse Air Brake Technologies Stock Performance

WAB opened at $94.70 on Thursday. The stock has a market cap of $17.03 billion, a PE ratio of 26.45, a P/E/G ratio of 1.49 and a beta of 1.48. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 0.31. Westinghouse Air Brake Technologies has a 1 year low of $78.26 and a 1 year high of $107.86. The stock’s 50 day simple moving average is $98.10 and its 200-day simple moving average is $100.64.

Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.13 billion. Westinghouse Air Brake Technologies had a return on equity of 9.09% and a net margin of 7.57%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Sell-side analysts forecast that Westinghouse Air Brake Technologies will post 5.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on WAB shares. StockNews.com started coverage on Westinghouse Air Brake Technologies in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Raymond James raised their price target on Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Stephens raised their price objective on Westinghouse Air Brake Technologies from $110.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Citigroup raised their price objective on Westinghouse Air Brake Technologies from $95.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Finally, KeyCorp raised their price objective on Westinghouse Air Brake Technologies from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.20.

Insider Buying and Selling

In related news, insider Michael Fetsko sold 7,676 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $104.63, for a total transaction of $803,139.88. Following the completion of the sale, the insider now directly owns 32,244 shares of the company’s stock, valued at approximately $3,373,689.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO Eric Gebhardt sold 2,407 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $98.69, for a total transaction of $237,546.83. Following the completion of the sale, the chief technology officer now directly owns 21,513 shares of the company’s stock, valued at approximately $2,123,117.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Fetsko sold 7,676 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $104.63, for a total value of $803,139.88. Following the sale, the insider now directly owns 32,244 shares of the company’s stock, valued at $3,373,689.72. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Several hedge funds have recently added to or reduced their stakes in WAB. Neuberger Berman Group LLC increased its stake in Westinghouse Air Brake Technologies by 10.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 287,515 shares of the transportation company’s stock worth $23,389,000 after acquiring an additional 26,351 shares during the period. State of Tennessee Treasury Department increased its stake in Westinghouse Air Brake Technologies by 13.8% during the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock worth $11,645,000 after acquiring an additional 13,949 shares during the period. Cibc World Markets Corp bought a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at $1,092,000. Eudaimonia Partners LLC bought a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at $366,000. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at $30,000. 89.47% of the stock is owned by institutional investors and hedge funds.

About Westinghouse Air Brake Technologies

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Westinghouse Air Brake Technologies Corp. engages in the provision of equipment, systems, and value-added services for the rail industry. It operates through the Freight and Transit segments. The Freight segment builds new locomotives, manufactures and services components for new and existing freight cars and locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, and signal design and engineering services, and provides related heat exchange and cooling systems.