Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Free Report) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $208.12, but opened at $192.00. Westinghouse Air Brake Technologies shares last traded at $186.55, with a volume of 669,694 shares trading hands.
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 10.25% and a return on equity of 12.52%.
Westinghouse Air Brake Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, February 21st. Westinghouse Air Brake Technologies’s dividend payout ratio is 16.67%.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on WAB
Institutional Trading of Westinghouse Air Brake Technologies
A number of hedge funds and other institutional investors have recently bought and sold shares of WAB. Eastern Bank bought a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $33,000. Garde Capital Inc. bought a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at $110,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Westinghouse Air Brake Technologies in the 4th quarter worth $204,000. Camden National Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Finally, Longboard Asset Management LP bought a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth $252,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.
Westinghouse Air Brake Technologies Stock Performance
The firm has a 50 day moving average price of $199.13 and a 200 day moving average price of $186.01. The stock has a market cap of $32.53 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.
Westinghouse Air Brake Technologies Company 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.
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