Wabtec to Issue Quarterly Dividend of $0.25 (NYSE:WAB)

Wabtec (NYSE:WAB - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Investors of record on Thursday, August 14th will be paid 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 yield of 0.48%. The ex-dividend date is Thursday, August 14th.

Wabtec has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

WAB traded down $1.91 on Monday, reaching $210.00. The company had a trading volume of 721,603 shares, compared to its average volume of 1,055,411. Wabtec has a one year low of $147.66 and a one year high of $216.10. The company has a current ratio of 1.34, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $35.94 billion, a P/E ratio of 32.92, a PEG ratio of 1.51 and a beta of 1.12. The company has a fifty day moving average of $205.84 and a 200-day moving average of $193.72.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.25. Wabtec had a net margin of 10.53% and a return on equity of 13.35%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Wabtec will post 8.54 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on WAB. JPMorgan Chase & Co. boosted their target price on Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Susquehanna cut their price objective on Wabtec from $218.00 to $210.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Bank of America lifted their price objective on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. KeyCorp restated an "overweight" rating and issued a $240.00 target price (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $201.00 target price (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Wabtec presently has an average rating of "Moderate Buy" and an average price target of $216.83.

Insider Buying and Selling at Wabtec

In related news, CTO Eric Gebhardt sold 6,151 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total transaction of $1,244,900.89. Following the completion of the transaction, the chief technology officer directly owned 18,697 shares in the company, valued at $3,784,085.83. The trade was a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rafael Santana sold 886 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $213.35, for a total value of $189,028.10. Following the transaction, the chief executive officer directly owned 141,186 shares of the company's stock, valued at $30,122,033.10. The trade was a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,474 shares of company stock valued at $20,022,025 in the last ninety days. 1.10% of the stock is owned by corporate 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.