iA Global Asset Management Inc. Reduces Stock Holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

iA Global Asset Management Inc. decreased its stake in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,095 shares of the transportation company’s stock after selling 1,518 shares during the quarter. iA Global Asset Management Inc.’s holdings in Westinghouse Air Brake Technologies were worth $3,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd boosted its holdings in shares of Westinghouse Air Brake Technologies by 114.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,907 shares of the transportation company’s stock worth $741,000 after purchasing an additional 2,087 shares during the period. Cibc World Markets Corp boosted its holdings in shares of Westinghouse Air Brake Technologies by 14.4% in the 4th quarter. Cibc World Markets Corp now owns 27,266 shares of the transportation company’s stock worth $5,169,000 after purchasing an additional 3,441 shares during the period. Twin Tree Management LP lifted its stake in shares of Westinghouse Air Brake Technologies by 108.8% during the 4th quarter. Twin Tree Management LP now owns 2,960 shares of the transportation company’s stock worth $561,000 after acquiring an additional 36,435 shares during the last quarter. Catalyst Funds Management Pty Ltd lifted its stake in shares of Westinghouse Air Brake Technologies by 200.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the transportation company’s stock worth $341,000 after acquiring an additional 1,200 shares during the last quarter. Finally, AGF Management Ltd. bought a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter worth approximately $10,566,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity

In other news, CEO Rafael Santana sold 886 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $182.34, for a total value of $161,553.24. Following the transaction, the chief executive officer now directly owns 176,295 shares in the company, valued at approximately $32,145,630.30. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Bank of America raised their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. StockNews.com lowered Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Stephens reissued an “overweight” rating and set a $220.00 price target on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

Westinghouse Air Brake Technologies Trading Down 0.1 %

Shares of NYSE WAB opened at $185.45 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $192.85 and a two-hundred day simple moving average of $190.08. The firm has a market cap of $31.68 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. Westinghouse Air Brake Technologies Co. has a twelve month low of $141.85 and a twelve month high of $210.88.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. Analysts expect that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 16.58%.

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.