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

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Westinghouse Air Brake Technologies Corp (NYSE:WAB) was the recipient of some unusual options trading on Monday. Investors purchased 1,548 call options on the company. This is an increase of 1,179% compared to the typical daily volume of 121 call options.

WAB stock opened at $110.22 on Tuesday. Westinghouse Air Brake Technologies has a fifty-two week low of $69.20 and a fifty-two week high of $114.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.52. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 2.47 and a beta of 0.93.

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

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

In other news, VP Scott Wahlstrom sold 9,000 shares of the company’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $97.47, for a total transaction of $877,230.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lee B. Foster II sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $96.90, for a total value of $387,600.00. Following the transaction, the director now directly owns 19,200 shares in the company, valued at $1,860,480. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,708 shares of company stock worth $27,550,591. Corporate insiders own 11.49% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Westinghouse Air Brake Technologies by 1.9% in the first quarter. BlackRock Inc. now owns 7,944,769 shares of the transportation company’s stock worth $646,705,000 after buying an additional 145,135 shares in the last quarter. Baillie Gifford & Co. increased its position in Westinghouse Air Brake Technologies by 1.0% in the first quarter. Baillie Gifford & Co. now owns 4,691,207 shares of the transportation company’s stock worth $381,864,000 after buying an additional 47,026 shares in the last quarter. American Century Companies Inc. increased its position in Westinghouse Air Brake Technologies by 8.5% in the first quarter. American Century Companies Inc. now owns 1,984,032 shares of the transportation company’s stock worth $161,500,000 after buying an additional 154,633 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Westinghouse Air Brake Technologies by 2.0% in the first quarter. PNC Financial Services Group Inc. now owns 529,201 shares of the transportation company’s stock worth $43,078,000 after buying an additional 10,165 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Westinghouse Air Brake Technologies by 1.2% in the first quarter. Blair William & Co. IL now owns 521,687 shares of the transportation company’s stock worth $42,465,000 after buying an additional 6,294 shares in the last quarter.

A number of research firms have weighed in on WAB. B. Riley set a $95.00 target price on Westinghouse Air Brake Technologies and gave the company a “hold” rating in a report on Tuesday, July 24th. KeyCorp reissued an “overweight” rating and issued a $113.00 target price (up previously from $105.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, July 25th. Stifel Nicolaus increased their target price on Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Cowen reissued a “buy” rating and issued a $125.00 target price on shares of Westinghouse Air Brake Technologies in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised Westinghouse Air Brake Technologies from a “hold” rating to a “strong-buy” rating and set a $119.00 target price on the stock in a report on Monday, July 16th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Westinghouse Air Brake Technologies presently has an average rating of “Buy” and a consensus target price of $103.07.

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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