Wabtec Declares Quarterly Dividend of $0.25 (NYSE:WAB)

Wabtec (NYSE:WAB - Get Free Report) announced a quarterly dividend on Thursday, July 17th, RTT News reports. Stockholders of record on Thursday, August 14th will be given a dividend of 0.25 per share by the transportation company on Thursday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%.

Wabtec has a dividend payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wabtec to earn $9.60 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 10.4%.

Wabtec Trading Up 0.5%

Shares of Wabtec stock traded up $1.14 on Thursday, reaching $212.68. The company had a trading volume of 832,696 shares, compared to its average volume of 1,057,945. The firm's 50 day moving average price is $205.46 and its two-hundred day moving average price is $193.50. The firm has a market cap of $36.40 billion, a PE ratio of 33.34, a PEG ratio of 1.51 and a beta of 1.12. Wabtec has a 52-week low of $147.66 and a 52-week high of $216.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.34.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.25. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Wabtec had a net margin of 10.53% and a return on equity of 13.35%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Sell-side analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. KeyCorp reiterated an "overweight" rating and set a $240.00 price objective (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Susquehanna lowered their price target on Wabtec from $218.00 to $210.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised Wabtec from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. increased their price objective on Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Bank of America boosted their target price on Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Wabtec has a consensus rating of "Moderate Buy" and an average target price of $216.83.

Insider Buying and Selling at Wabtec

In related news, CTO Eric Gebhardt sold 6,151 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total value of $1,244,900.89. Following the transaction, the chief technology officer owned 18,697 shares in the company, valued at approximately $3,784,085.83. This represents a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rafael Santana sold 886 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $213.35, for a total value of $189,028.10. Following the completion of the transaction, the chief executive officer owned 141,186 shares in the company, valued at $30,122,033.10. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,474 shares of company stock valued at $20,022,025 over the last three months. 1.10% of the stock is owned by insiders.

About Wabtec

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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