KLP Kapitalforvaltning AS Makes New $22.51 Million Investment in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

KLP Kapitalforvaltning AS bought a new position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 118,726 shares of the transportation company’s stock, valued at approximately $22,509,000. KLP Kapitalforvaltning AS owned about 0.07% of Westinghouse Air Brake Technologies at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Garde Capital Inc. bought a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $110,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Westinghouse Air Brake Technologies during the fourth quarter valued at $204,000. Camden National Bank bought a new position in Westinghouse Air Brake Technologies in the third quarter valued at about $222,000. Longboard Asset Management LP acquired a new stake in Westinghouse Air Brake Technologies in the fourth quarter worth about $252,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Westinghouse Air Brake Technologies by 10.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after purchasing an additional 172 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rafael Santana sold 886 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $182.34, for a total transaction of $161,553.24. Following the sale, the chief executive officer now directly owns 176,295 shares in the company, valued at $32,145,630.30. This trade represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WAB. StockNews.com cut shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Stephens reiterated an “overweight” rating and set a $220.00 target price on shares of Westinghouse Air Brake Technologies in a research report on Thursday, February 13th. Finally, Bank of America raised their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.33.

Westinghouse Air Brake Technologies Stock Down 0.3 %

Shares of NYSE:WAB opened at $184.88 on Friday. The company has a 50 day moving average price of $192.77 and a two-hundred day moving average price of $190.37. The company has a market capitalization of $31.59 billion, a PE ratio of 30.66, a PEG ratio of 1.50 and a beta of 1.31. Westinghouse Air Brake Technologies Co. has a 52 week low of $141.85 and a 52 week high of $210.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.69 and a current ratio of 1.30.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Wednesday, February 12th. The transportation company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. Analysts forecast that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s payout ratio is presently 16.58%.

Westinghouse Air Brake Technologies Company Profile

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.