Wabtec (NYSE:WAB) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Wabtec (NYSE:WAB - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $191.91 and traded as high as $210.88. Wabtec shares last traded at $209.29, with a volume of 1,121,098 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Wabtec from $217.00 to $231.00 and gave the company a "buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $201.00 price target (up previously from $175.00) on shares of Wabtec in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price objective on Wabtec from $175.00 to $194.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, KeyCorp restated an "overweight" rating and issued a $240.00 target price (up from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $216.00.

Wabtec Stock Down 0.2%

The stock's 50 day moving average is $199.91 and its 200 day moving average is $192.06. The company has a market capitalization of $36.53 billion, a PE ratio of 33.45, a PEG ratio of 1.58 and a beta of 1.12. 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 posted its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.25. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. On average, sell-side analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Wabtec's dividend payout ratio is presently 15.67%.

Insider Transactions at Wabtec

In related news, CEO Rafael Santana sold 886 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.23, for a total transaction of $178,289.78. Following the completion of the transaction, the chief executive officer owned 142,958 shares of the company's stock, valued at approximately $28,767,438.34. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David L. Deninno sold 3,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $201.05, for a total transaction of $603,150.00. Following the transaction, the vice president owned 60,450 shares of the company's stock, valued at $12,153,472.50. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,588 shares of company stock valued at $19,832,997. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Wabtec

A number of institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Wabtec by 9.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock worth $114,000 after purchasing an additional 56 shares in the last quarter. Greenleaf Trust grew its stake in Wabtec by 2.8% in the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock worth $623,000 after buying an additional 93 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Wabtec by 3.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 5,400 shares of the transportation company's stock worth $1,024,000 after buying an additional 200 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of Wabtec during the 4th quarter valued at $52,000. Finally, DnB Asset Management AS lifted its holdings in shares of Wabtec by 0.9% during the 4th quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company's stock worth $9,119,000 after acquiring an additional 414 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.