AGF Management Ltd. Invests $10.57 Million in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

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

Other hedge funds have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC bought a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth about $204,000. Longbow Finance SA acquired a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at about $4,312,000. Longboard Asset Management LP acquired a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at about $252,000. Greenleaf Trust grew its position in shares of Westinghouse Air Brake Technologies by 2.9% during the 4th quarter. Greenleaf Trust now owns 3,344 shares of the transportation company’s stock worth $634,000 after buying an additional 94 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Westinghouse Air Brake Technologies by 88.8% during the 4th quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company’s stock worth $6,031,000 after buying an additional 14,959 shares during the period. 91.69% of the stock is owned by institutional investors.

Insider Transactions at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies 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 transaction, the chief executive officer now directly 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 SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB opened at $176.04 on Wednesday. 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 Co. has a twelve month low of $139.12 and a twelve month high of $210.88. The firm’s 50 day moving average price is $194.20 and its two-hundred day moving average price is $189.71. The firm has a market cap 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 (NYSE:WAB) last issued its quarterly earnings results on Wednesday, February 12th. The transportation company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. On average, analysts forecast that Westinghouse Air Brake Technologies Co. will post 8.54 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp lifted their price objective 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. Bank of America lifted their price objective 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. Stephens reissued an “overweight” rating and set a $220.00 price objective on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.33.

Westinghouse Air Brake Technologies 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.