Rhumbline Advisers Sells 9,928 Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Rhumbline Advisers reduced its position in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 304,418 shares of the transportation company’s stock after selling 9,928 shares during the quarter. Rhumbline Advisers owned about 0.18% of Westinghouse Air Brake Technologies worth $57,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WAB. Erste Asset Management GmbH bought a new stake in Westinghouse Air Brake Technologies in the third quarter worth $61,474,000. BNP Paribas Financial Markets lifted its position in shares of Westinghouse Air Brake Technologies by 5.2% during the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after purchasing an additional 13,683 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its position in shares of Westinghouse Air Brake Technologies by 4.5% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after purchasing an additional 8,575 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Westinghouse Air Brake Technologies during the third quarter worth $24,630,000. Finally, Forsta AP Fonden lifted its position in shares of Westinghouse Air Brake Technologies by 4.3% during the third quarter. Forsta AP Fonden now owns 50,600 shares of the transportation company’s stock worth $9,198,000 after purchasing an additional 2,100 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on WAB. Bank of America lifted their target price on 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. Susquehanna lifted their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Stephens restated an “overweight” rating and set a $220.00 price target on shares of Westinghouse Air Brake Technologies in a research note on Thursday. The Goldman Sachs Group raised their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, KeyCorp raised their price target on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.33.

Westinghouse Air Brake Technologies Price Performance

WAB opened at $188.14 on Monday. The business’s 50-day moving average is $198.65 and its two-hundred day moving average is $186.65. Westinghouse Air Brake Technologies Co. has a 1 year low of $132.77 and a 1 year high of $210.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The firm has a market capitalization of $32.14 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its 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 10.25% and a return on equity of 12.52%. Research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change 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.