Rhumbline Advisers Sells 23,651 Shares of Westinghouse Air Brake Technologies Corp (WAB)

Rhumbline Advisers lessened its holdings in Westinghouse Air Brake Technologies Corp (NYSE:WAB) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,974 shares of the transportation company’s stock after selling 23,651 shares during the quarter. Rhumbline Advisers’ holdings in Westinghouse Air Brake Technologies were worth $14,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PRW Wealth Management LLC bought a new position in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at about $28,000. Cullen Frost Bankers Inc. bought a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at about $34,000. RPG Investment Advisory LLC boosted its stake in shares of Westinghouse Air Brake Technologies by 545.0% in the 1st quarter. RPG Investment Advisory LLC now owns 645 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 545 shares during the last quarter. Cribstone Capital Management LLC bought a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at about $49,000. Finally, Smithfield Trust Co. boosted its stake in shares of Westinghouse Air Brake Technologies by 93.3% in the 1st quarter. Smithfield Trust Co. now owns 1,450 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 700 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors.

In related news, Director Linda S. Harty sold 3,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $75.68, for a total transaction of $227,040.00. Following the transaction, the director now owns 6,054 shares of the company’s stock, valued at approximately $458,166.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.56% of the stock is owned by company insiders.

WAB has been the topic of several recent research reports. ValuEngine raised shares of Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Buckingham Research reduced their target price on shares of Westinghouse Air Brake Technologies from $94.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Zacks Investment Research lowered shares of Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Seaport Global Securities reaffirmed a “buy” rating on shares of Westinghouse Air Brake Technologies in a research note on Monday, January 28th. Finally, Jefferies Financial Group initiated coverage on shares of Westinghouse Air Brake Technologies in a research note on Friday, February 22nd. They issued a “hold” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Westinghouse Air Brake Technologies presently has an average rating of “Buy” and an average target price of $94.10.

Westinghouse Air Brake Technologies stock opened at $69.54 on Wednesday. Westinghouse Air Brake Technologies Corp has a fifty-two week low of $65.09 and a fifty-two week high of $115.40. The company has a market cap of $6.91 billion, a P/E ratio of 18.25, a PEG ratio of 1.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.35.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.26. Westinghouse Air Brake Technologies had a net margin of 4.12% and a return on equity of 9.11%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $0.92 EPS. Westinghouse Air Brake Technologies’s quarterly revenue was up 50.9% compared to the same quarter last year. Analysts expect that Westinghouse Air Brake Technologies Corp will post 4.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 9th. Westinghouse Air Brake Technologies’s payout ratio is 12.60%.

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About Westinghouse Air Brake Technologies

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher 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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Institutional Ownership by Quarter for Westinghouse Air Brake Technologies (NYSE:WAB)

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