Everence Capital Management Inc. Sells 3,210 Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Everence Capital Management Inc. lowered its stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 51.4% during the fourth quarter, HoldingsChannel reports. The fund owned 3,040 shares of the transportation company’s stock after selling 3,210 shares during the quarter. Everence Capital Management Inc.’s holdings in Westinghouse Air Brake Technologies were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WAB. Neuberger Berman Group LLC increased its holdings in Westinghouse Air Brake Technologies by 2,233.1% in the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock valued at $23,589,000 after buying an additional 234,764 shares during the period. iA Global Asset Management Inc. bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter valued at $1,915,000. State of Tennessee Treasury Department increased its holdings in Westinghouse Air Brake Technologies by 13.8% in the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock valued at $11,645,000 after buying an additional 13,949 shares during the period. Cibc World Markets Corp bought a new stake in Westinghouse Air Brake Technologies in the 1st quarter valued at $1,092,000. Finally, Handelsinvest Investeringsforvaltning bought a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at $1,030,000. Institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Down 0.2 %

Shares of NYSE WAB opened at $144.27 on Friday. The firm’s 50-day simple moving average is $142.06 and its 200 day simple moving average is $126.43. The company has a market cap of $25.51 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.66 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. Westinghouse Air Brake Technologies Co. has a 12-month low of $91.89 and a 12-month high of $151.00.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.04). The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.48 billion. Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. On average, research analysts expect that Westinghouse Air Brake Technologies Co. will post 6.73 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 17.70%.

Analyst Ratings Changes

WAB has been the topic of several analyst reports. KeyCorp boosted their price target on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $115.00 to $150.00 in a report on Thursday, January 11th. TD Cowen upped their target price on shares of Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the stock a “market perform” rating in a report on Thursday, February 15th. Susquehanna upped their target price on shares of Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Thursday, February 15th. Finally, Redburn Atlantic lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 target price on the stock. in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.91.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now directly owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,964 shares of company stock worth $8,924,584. Company insiders own 1.10% of the company’s stock.

About Westinghouse Air Brake Technologies

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.