Westinghouse Air Brake Technologies Corp (NYSE:WAB) declared a quarterly dividend on Wednesday, July 29th, RTT News reports. Investors of record on Friday, August 14th will be paid a dividend of 0.12 per share by the transportation company on Friday, August 28th. This represents a $0.48 dividend on an annualized basis and a yield of 0.76%.
Westinghouse Air Brake Technologies has increased its dividend by an average of 33.3% per year over the last three years and has increased its dividend every year for the last 8 years. Westinghouse Air Brake Technologies has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Westinghouse Air Brake Technologies to earn $4.22 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 11.4%.
Shares of WAB opened at $63.09 on Friday. The company has a market capitalization of $12.03 billion, a P/E ratio of 28.29, a P/E/G ratio of 0.55 and a beta of 1.51. Westinghouse Air Brake Technologies has a one year low of $35.07 and a one year high of $81.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.82 and a current ratio of 1.42. The stock has a 50-day moving average price of $59.99 and a 200 day moving average price of $61.73.
In other Westinghouse Air Brake Technologies news, Director William E. Kassling bought 10,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $51.17 per share, for a total transaction of $511,700.00. Following the completion of the acquisition, the director now directly owns 69,730 shares of the company’s stock, valued at $3,568,084.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.35% of the stock is owned by corporate insiders.
WAB has been the topic of several research reports. Cowen upped their price objective on Westinghouse Air Brake Technologies from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Zacks Investment Research upgraded Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a research report on Saturday, May 9th. Wells Fargo & Co increased their price target on Westinghouse Air Brake Technologies from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wolfe Research lowered Westinghouse Air Brake Technologies from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley decreased their price objective on Westinghouse Air Brake Technologies from $76.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Westinghouse Air Brake Technologies currently has a consensus rating of “Hold” and an average price target of $72.25.
Westinghouse Air Brake Technologies Company Profile
Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.
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