Millennium Management LLC Reduces Position in Westinghouse Air Brake Technologies Corp (WAB)

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Millennium Management LLC cut its position in shares of Westinghouse Air Brake Technologies Corp (NYSE:WAB) by 94.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,168 shares of the transportation company’s stock after selling 75,087 shares during the quarter. Millennium Management LLC’s holdings in Westinghouse Air Brake Technologies were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Progressive Investment Management Corp increased its position in shares of Westinghouse Air Brake Technologies by 3.2% in the 1st quarter. Progressive Investment Management Corp now owns 32,278 shares of the transportation company’s stock worth $2,627,000 after purchasing an additional 1,011 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Westinghouse Air Brake Technologies by 221.5% in the 1st quarter. Global X Management Co. LLC now owns 19,823 shares of the transportation company’s stock worth $1,614,000 after purchasing an additional 13,657 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Westinghouse Air Brake Technologies by 39.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 104,756 shares of the transportation company’s stock worth $8,527,000 after purchasing an additional 29,520 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Westinghouse Air Brake Technologies by 1.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 253,460 shares of the transportation company’s stock worth $20,632,000 after purchasing an additional 2,835 shares during the last quarter. Finally, K.J. Harrison & Partners Inc increased its position in shares of Westinghouse Air Brake Technologies by 80.4% in the 1st quarter. K.J. Harrison & Partners Inc now owns 27,200 shares of the transportation company’s stock worth $2,214,000 after purchasing an additional 12,120 shares during the last quarter.

Shares of NYSE:WAB opened at $109.97 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.52 and a debt-to-equity ratio of 0.65. Westinghouse Air Brake Technologies Corp has a fifty-two week low of $69.20 and a fifty-two week high of $114.85. The stock has a market cap of $10.64 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 2.47 and a beta of 0.93.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Tuesday, July 24th. The transportation company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.02 billion. Westinghouse Air Brake Technologies had a net margin of 6.88% and a return on equity of 12.40%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. equities analysts expect that Westinghouse Air Brake Technologies Corp will post 3.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Friday, August 10th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, August 9th. Westinghouse Air Brake Technologies’s payout ratio is 13.99%.

WAB has been the subject of a number of recent research reports. B. Riley set a $95.00 price objective on shares of Westinghouse Air Brake Technologies and gave the company a “hold” rating in a research report on Tuesday, July 24th. Mizuho initiated coverage on shares of Westinghouse Air Brake Technologies in a research report on Friday, June 29th. They set a “neutral” rating and a $110.00 price objective for the company. KeyCorp reaffirmed an “overweight” rating and set a $105.00 price objective (up previously from $100.00) on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, May 8th. Zacks Investment Research raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective for the company in a research report on Monday, July 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $103.07.

In other Westinghouse Air Brake Technologies news, VP David L. Deninno sold 6,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $113.44, for a total transaction of $680,640.00. Following the completion of the transaction, the vice president now directly owns 59,888 shares of the company’s stock, valued at approximately $6,793,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emilio Fernandez sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $112.27, for a total transaction of $1,796,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 260,708 shares of company stock valued at $27,550,591 over the last three months. 11.49% of the stock is currently owned by company insiders.

Westinghouse Air Brake Technologies 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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Institutional Ownership by Quarter for Westinghouse Air Brake Technologies (NYSE:WAB)

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