Traders Buy High Volume of Put Options on Westinghouse Air Brake Technologies (WAB)

Westinghouse Air Brake Technologies Corp (NYSE:WAB) saw some unusual options trading on Thursday. Investors purchased 19,415 put options on the company. This is an increase of 1,383% compared to the typical daily volume of 1,309 put options.

Hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $150,000. Smithfield Trust Co. raised its stake in Westinghouse Air Brake Technologies by 177.3% during the 3rd quarter. Smithfield Trust Co. now owns 2,080 shares of the transportation company’s stock worth $218,000 after buying an additional 1,330 shares during the period. Piedmont Investment Advisors Inc. raised its stake in Westinghouse Air Brake Technologies by 10,666.7% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 2,261 shares of the transportation company’s stock worth $237,000 after buying an additional 2,240 shares during the period. Boston Common Asset Management LLC acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $256,000. Finally, Resources Management Corp CT ADV purchased a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth approximately $292,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

WAB has been the topic of a number of recent analyst reports. Zacks Investment Research raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Tuesday, September 25th. Wellington Shields raised Westinghouse Air Brake Technologies from a “hold” rating to a “gradually accumulate” rating in a research note on Monday, October 15th. William Blair reissued a “buy” rating on shares of Westinghouse Air Brake Technologies in a research note on Monday, September 17th. Wolfe Research downgraded Westinghouse Air Brake Technologies from an “outperform” rating to a “peer perform” rating in a research note on Friday, October 5th. Finally, Wells Fargo & Co set a $105.00 price objective on Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $106.73.

WAB stock opened at $88.33 on Friday. Westinghouse Air Brake Technologies has a fifty-two week low of $69.75 and a fifty-two week high of $115.40. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.28 and a current ratio of 2.84. The company has a market cap of $8.60 billion, a P/E ratio of 25.75, a PEG ratio of 2.01 and a beta of 1.19.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Tuesday, October 30th. The transportation company reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Westinghouse Air Brake Technologies had a return on equity of 12.43% and a net margin of 7.16%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that Westinghouse Air Brake Technologies will post 3.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Thursday, November 15th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 13.99%.

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Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

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