Bridges Investment Management Inc. Invests $360,000 in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Bridges Investment Management Inc. bought a new stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 2,280 shares of the transportation company’s stock, valued at approximately $360,000.

Several other institutional investors and hedge funds have also bought and sold shares of WAB. Massmutual Trust Co. FSB ADV increased its position in Westinghouse Air Brake Technologies by 26.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after buying an additional 118 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter worth $204,000. Greenleaf Trust grew its position in Westinghouse Air Brake Technologies by 4.3% in the 1st quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock valued at $466,000 after purchasing an additional 133 shares during the period. First Hawaiian Bank increased its stake in Westinghouse Air Brake Technologies by 4.4% during the 1st quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock valued at $539,000 after purchasing an additional 157 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Westinghouse Air Brake Technologies by 3.4% during the second quarter. UMB Bank n.a. now owns 4,701 shares of the transportation company’s stock worth $743,000 after buying an additional 156 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Brian Hehir sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total transaction of $161,620.00. Following the sale, the director now directly owns 23,230 shares in the company, valued at $3,754,432.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Brian Hehir sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total transaction of $161,620.00. Following the completion of the transaction, the director now directly owns 23,230 shares in the company, valued at approximately $3,754,432.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,392 shares of company stock valued at $2,754,390. Corporate insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Stock Performance

NYSE:WAB opened at $179.22 on Friday. The company has a market capitalization of $31.61 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.42 and a beta of 1.27. The business has a fifty day simple moving average of $163.13 and a two-hundred day simple moving average of $158.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.73. Westinghouse Air Brake Technologies Co. has a 1 year low of $98.70 and a 1 year high of $179.28.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Westinghouse Air Brake Technologies Co. will post 7.46 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 15.63%.

Analyst Ratings Changes

WAB has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Bank of America increased their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.90.

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.