The Vanguard Group, Inc. has recently announced that it has increased stake in Westinghouse Air Brake Technologies Corporation (NYSE:WAB) by 1.56%. After grabbing 18.6 million shares, the institutional investor is now in possession of 0.29 million shares of the Industrials Company. The new investment brought the stake of investor firm to 10.18% having worth around $1.73 billion. Moreover, Select Equity Group LP increased its share by 2.29 million to have a control over 6.47 million shares. And Geode Capital Management LLC raised its holdings to 64654.0 shares by acquiring 3.57 million shares or 1.96% of the stake.
Westinghouse Air Brake Technologies Corporation (WAB) concluded trading on 11/23/22 at a closing price of $99.98, with 0.46 million shares of worth about $46.01 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 13.42% during that period and on Wednesday the price saw a loss of about -0.35%. Currently the company’s common shares owned by public are about 181.30M shares, out of which, 174.03M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the WAB stock and their offered price forecasts bring an average price target of $103.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $121.00 and could fall to a lowest price of $87.00. The stock’s current price level is 1.36% above of average price target set by the analysts, while a rise to estimated low would result in loss of -14.92% for the stock. However, touching the estimated high of $121.00 would mean a gain of 17.37% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 74 times over the past 12 months. They bought 145,286 shares in 36 of the transactions. In 38 selling transactions, insiders dumped 148,561 shares.
Vanguard Windsor Funds – Vanguard, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Westinghouse Air Brake Technologies Corporation Vanguard Windsor Funds – Vanguard is currently holding 5.28 million shares of worth totaling $492.49 million. The company recently came selling 57564.0 shares which brought its stake up to 2.89% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 23239.0 shares, after which its hold over company’s outstanding shares expand to 2.84%, leaving 5.18 million shares with the mutual fund that have a worth of about $483.43 million. Vanguard 500 Index Fund, after buying 4.16 million shares, have now control over 2.28% of the stake in the company. It holds 40284.0 shares of worth $388.18 million.
Westinghouse Air Brake Technologies Corporation (NYSE: WAB) started trading at $100.54, above $0.21 from concluding price of the previous day. However, the stock later moved at a day high price of 101.03, or with a loss of -0.35%. Stock saw a price change of 0.81% in past 5 days and over the past one month there was a price change of 11.11%. Year-to-date (YTD), WAB shares are showing a performance of 8.54% which increased to 4.09% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $78.26 but also hit the highest price of $102.11 during that period. The average intraday trading volume for Westinghouse Air Brake Technologies Corporation shares is 862.32K. The stock is currently trading 3.62% above its 20-day simple moving average (SMA20), while that difference is up 11.10% for SMA50 and it goes to 10.91% higher than SMA200.
The Vanguard Group, Inc. acquired 18.6 million shares of Westinghouse Air Brake Technologies Corporation having value of about $1.73 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.29 million shares in the company valued at close to $28508797.1, or have control over 1.56% stake in the company. Westinghouse Air Brake Technologies Corporation (NYSE: WAB) currently have 181.30M outstanding shares and institutions hold larger chunk of about 94.80% of that. Holding of mutual funds in the company is about 39.06% while other institutional holders and individual stake holders have control over 54.25% and 16.87% of the stake respectively.
The stock has a current market capitalization of $18.09B and its 3Y-monthly beta is at 1.49. PE ratio of stock for trailing 12 months is 27.83, while it has posted earnings per share of $3.59 in the same period. Its PEG reads 3.81 and has Quick Ratio of 0.70 while making debt-to-equity ratio of 0.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WAB, volatility over the week remained 1.69% while standing at 2.36% over the month.
Analysts are in expectations that Westinghouse Air Brake Technologies Corporation (WAB) stock would likely to be making an EPS of $1.21 in the current quarter, while forecast for next quarter EPS is $1.31 and it is $5.47 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.15 which is $1.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 36.20% while it is estimated to increase by 11.52% in next year. EPS is likely to grow at an annualized rate of 7.30% for next 5-years, compared to annual growth of -2.40% made by the stock over the past 5-years.
Analysts at 15 brokerage firms have issued recommendations for the Westinghouse Air Brake Technologies Corporation (WAB)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 15 Wall Street analysts, 6 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on August 18, 2022 offering an Outperform rating for the stock and assigned a target price of $103 to it. Coverage by Morgan Stanley stated Westinghouse Air Brake Technologies Corporation (WAB) stock as an Equal-weight in their note to investors on June 23, 2022, suggesting a price target of $94 for the stock. Stock get an Underperform rating from Wolfe Research on January 06, 2022.