Rhumbline Advisers Purchases 9,041 Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Rhumbline Advisers increased its stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 313,459 shares of the transportation company's stock after buying an additional 9,041 shares during the period. Rhumbline Advisers owned about 0.18% of Westinghouse Air Brake Technologies worth $56,846,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter worth approximately $22,509,000. AGF Management Ltd. purchased a new stake in Westinghouse Air Brake Technologies in the fourth quarter worth $10,566,000. DnB Asset Management AS raised its stake in shares of Westinghouse Air Brake Technologies by 0.9% in the fourth quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company's stock valued at $9,119,000 after buying an additional 414 shares during the period. Cibc World Markets Corp lifted its position in shares of Westinghouse Air Brake Technologies by 14.4% during the 4th quarter. Cibc World Markets Corp now owns 27,266 shares of the transportation company's stock valued at $5,169,000 after buying an additional 3,441 shares during the last quarter. Finally, Longbow Finance SA bought a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth $4,312,000. Institutional investors own 91.69% of the company's stock.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB traded up $0.37 during mid-day trading on Wednesday, reaching $203.95. 596,791 shares of the stock traded hands, compared to its average volume of 1,075,654. The company has a market cap of $34.90 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12. Westinghouse Air Brake Technologies Co. has a 1 year low of $147.66 and a 1 year high of $210.88. The firm has a fifty day moving average price of $186.36 and a 200 day moving average price of $191.37. The company has a current ratio of 1.30, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.25. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. Westinghouse Air Brake Technologies's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. As a group, equities research analysts predict that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. Westinghouse Air Brake Technologies's dividend payout ratio is presently 15.67%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In related news, insider Rogerio Mendonca sold 4,033 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $200.04, for a total transaction of $806,761.32. Following the transaction, the insider now owns 11,535 shares of the company's stock, valued at approximately $2,307,461.40. This trade represents a 25.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David L. Deninno sold 3,000 shares of Westinghouse Air Brake Technologies stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $191.82, for a total transaction of $575,460.00. Following the completion of the transaction, the vice president now owns 63,450 shares in the company, valued at approximately $12,170,979. The trade was a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,289 shares of company stock worth $18,950,281 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WAB. The Goldman Sachs Group restated a "neutral" rating and issued a $201.00 price objective (up from $175.00) on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $220.00 price objective on shares of Westinghouse Air Brake Technologies in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on Westinghouse Air Brake Technologies from $175.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen raised Westinghouse Air Brake Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th. Finally, Susquehanna reduced their price target on Westinghouse Air Brake Technologies from $218.00 to $210.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.83.

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.