Harvey Investment Co. LLC decreased its position in Westinghouse Air Brake Technologies Corporation (NYSE:WAB) by 0.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 176,615 shares of the transportation company’s stock after selling 1,095 shares during the period. Westinghouse Air Brake Technologies comprises 2.6% of Harvey Investment Co. LLC’s portfolio, making the stock its 15th biggest position. Harvey Investment Co. LLC owned about 0.18% of Westinghouse Air Brake Technologies worth $14,382,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAB. Beck Mack & Oliver LLC raised its stake in Westinghouse Air Brake Technologies by 75.8% in the 3rd quarter. Beck Mack & Oliver LLC now owns 596,459 shares of the transportation company’s stock valued at $45,182,000 after acquiring an additional 257,150 shares during the period. Lord Abbett & CO. LLC raised its stake in Westinghouse Air Brake Technologies by 15.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,218,217 shares of the transportation company’s stock valued at $111,467,000 after acquiring an additional 165,735 shares during the period. Tudor Investment Corp ET AL bought a new stake in Westinghouse Air Brake Technologies in the 2nd quarter valued at $2,745,000. SG Americas Securities LLC acquired a new position in Westinghouse Air Brake Technologies in the 4th quarter valued at $1,716,000. Finally, New York State Common Retirement Fund grew its holdings in Westinghouse Air Brake Technologies by 5.3% in the 3rd quarter. New York State Common Retirement Fund now owns 366,353 shares of the transportation company’s stock valued at $27,751,000 after buying an additional 18,600 shares in the last quarter.
Shares of Westinghouse Air Brake Technologies Corporation (NYSE WAB) traded down $0.94 during trading on Tuesday, reaching $71.06. The company’s stock had a trading volume of 94,221 shares, compared to its average volume of 814,693. The company has a quick ratio of 1.03, a current ratio of 1.55 and a debt-to-equity ratio of 0.67. Westinghouse Air Brake Technologies Corporation has a 12-month low of $69.20 and a 12-month high of $93.81. The firm has a market capitalization of $6,910.00, a PE ratio of 27.38, a PEG ratio of 1.55 and a beta of 1.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a $0.12 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 18.25%.
WAB has been the topic of a number of research reports. Zacks Investment Research raised Westinghouse Air Brake Technologies from a “sell” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Wednesday, October 18th. FBR & Co set a $85.00 price objective on Westinghouse Air Brake Technologies and gave the company a “hold” rating in a report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 price objective (up from $74.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, October 25th. Buckingham Research reduced their target price on Westinghouse Air Brake Technologies from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $86.67.
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Westinghouse Air Brake Technologies Company Profile
Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily manufactures and services components for new and existing freight cars and locomotives, builds new switcher locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, and provides related heat exchange and cooling systems.
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