SG Americas Securities LLC reduced its stake in Westinghouse Air Brake Technologies Corporation (NYSE:WAB) by 43.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,791 shares of the transportation company’s stock after selling 16,204 shares during the period. SG Americas Securities LLC’s holdings in Westinghouse Air Brake Technologies Corporation were worth $1,902,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WAB. IFP Advisors Inc raised its position in shares of Westinghouse Air Brake Technologies Corporation by 15.2% in the second quarter. IFP Advisors Inc now owns 1,913 shares of the transportation company’s stock valued at $175,000 after buying an additional 252 shares during the period. Moody Lynn & Lieberson LLC bought a new position in shares of Westinghouse Air Brake Technologies Corporation during the second quarter valued at about $520,000. Aperio Group LLC raised its position in shares of Westinghouse Air Brake Technologies Corporation by 7.7% in the second quarter. Aperio Group LLC now owns 40,411 shares of the transportation company’s stock valued at $3,698,000 after buying an additional 2,877 shares during the period. Mountain Pacific Investment Advisers Inc. ID raised its position in shares of Westinghouse Air Brake Technologies Corporation by 0.6% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 285,430 shares of the transportation company’s stock valued at $26,117,000 after buying an additional 1,605 shares during the period. Finally, Buffington Mohr McNeal raised its position in shares of Westinghouse Air Brake Technologies Corporation by 1.9% in the second quarter. Buffington Mohr McNeal now owns 10,165 shares of the transportation company’s stock valued at $930,000 after buying an additional 185 shares during the period.
Shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) opened at 70.20 on Friday. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 24.70 and a beta of 1.03. Westinghouse Air Brake Technologies Corporation has a 12-month low of $69.75 and a 12-month high of $93.81. The stock’s 50 day moving average is $78.49 and its 200-day moving average is $81.47.
Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last released its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.14. Westinghouse Air Brake Technologies Corporation had a return on equity of 13.07% and a net margin of 8.10%. The firm had revenue of $932.25 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. Westinghouse Air Brake Technologies Corporation’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, analysts expect that Westinghouse Air Brake Technologies Corporation will post $3.52 earnings per share for the current year.
Several research firms have issued reports on WAB. BidaskClub lowered shares of Westinghouse Air Brake Technologies Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Deutsche Bank AG set a $85.00 price target on shares of Westinghouse Air Brake Technologies Corporation and gave the company a “hold” rating in a research report on Monday, August 14th. Stifel Nicolaus restated a “hold” rating and set a $74.00 price target on shares of Westinghouse Air Brake Technologies Corporation in a research report on Friday, July 28th. Edward Jones lowered shares of Westinghouse Air Brake Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, FBR & Co cut their price target on shares of Westinghouse Air Brake Technologies Corporation from $100.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $92.00.
About Westinghouse Air Brake Technologies Corporation
Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily 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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