AGF Management Ltd. Buys Shares of 55,729 Westinghouse Air Brake Technologies Co. (NYSE:WAB)

AGF Management Ltd. purchased a new position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,729 shares of the transportation company’s stock, valued at approximately $10,566,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at about $61,474,000. Lord Abbett & CO. LLC acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $24,630,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $7,128,000. Longbow Finance SA acquired a new stake in Westinghouse Air Brake Technologies during the fourth quarter worth approximately $4,312,000. Finally, Pacer Advisors Inc. raised its stake in Westinghouse Air Brake Technologies by 88.8% during the fourth quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company’s stock worth $6,031,000 after purchasing an additional 14,959 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 886 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $182.34, for a total value of $161,553.24. Following the completion of the sale, the chief executive officer now owns 176,295 shares in the company, valued at approximately $32,145,630.30. This represents a 0.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WAB has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stephens reaffirmed an “overweight” rating and set a $220.00 price target on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. StockNews.com downgraded shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Bank of America lifted their price target on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.33.

Westinghouse Air Brake Technologies Price Performance

WAB opened at $176.04 on Wednesday. The company has a 50-day moving average of $194.20 and a 200-day moving average of $189.71. The company has a market capitalization of $30.08 billion, a P/E ratio of 29.19, a PEG ratio of 1.50 and a beta of 1.31. Westinghouse Air Brake Technologies Co. has a 1-year low of $139.12 and a 1-year 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 announced its quarterly earnings data on Wednesday, February 12th. The transportation company reported $1.68 earnings per share 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%. Equities analysts expect that Westinghouse Air Brake Technologies Co. will post 8.54 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.25 dividend. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 21st. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 16.58%.

About Westinghouse Air Brake Technologies

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.