Gregory Sbrocco, executive vice president of operations at Westinghouse Air Brake Technologies Corp (NYSE:), recently sold shares of the company valued at approximately $113,772. The transaction, which took place on November 26, involved the sale of 565 shares at an average price of $201.37 per share. Following this sale, Sbrocco owns 16,101 shares in the company. This transaction was documented in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Wabtec Corporation reported strong third-quarter results, with sales up 4.5% to $2.7 billion compared to the same period last year. The company’s adjusted earnings per share (EPS) also saw a year-over-year increase of approximately 18%, reaching $2.00. Wabtec’s order book grew 7.5% to $7.6 billion, with a total multi-year order book of $22 billion. These recent developments include contracts with Kazakhstan’s KTZ and Siemens (ETR:) Mobility.
Wabtec’s cargo segment sales increased by 2.6%, while transit segment sales saw a 9.6% increase. The company also reported strong cash flow from operations of $542 million. There is a mixed outlook for the freight business, with strong international markets but a revised downward forecast for North American railcar construction to 41,000 by 2024, analysts say.
Stephens raised his price target for Wabtec to $205.00, up from $190.00 previously, after Wabtec’s third-quarter earnings per share (EPS) beat expectations. The company also raised its full-year adjusted EPS guidance for 2024 to between $7.45 and $7.65, reflecting a 27.5% increase at the midpoint. Despite restructuring costs of $18 million and a decline in service revenue due to a change in production mix, Wabtec executives expressed confidence in the company’s future performance.
InvestingPro Insights
While Gregory Sbrocco’s recent sale of Westinghouse Air Brake Technologies Corp (NYSE:WAB) stock may raise eyebrows, a closer look at the company’s financial metrics and market performance reveals a more nuanced picture.
According to data from InvestingPro, WAB stock has shown notable strength, with a total return of 73.66% over the past year and a return of 59.74% so far this year. This strong performance is reflected in the stock trading 98.41% off its 52-week high, suggesting strong investor confidence.
The company’s financial health appears strong, with revenue of $10.33 billion in the trailing twelve months to Q3 2024, representing a growth of 9.23%. Furthermore, WAB’s EBITDA growth of 21.82% over the same period indicates improved operational efficiency.
InvestingPro advice highlights that WAB has maintained its dividend payments for 30 consecutive years and has increased its dividend for 3 consecutive years, with a current dividend yield of 0.4%. This commitment to shareholder returns, along with a moderate level of debt, underlines the company’s financial stability.
It’s worth noting that WAB is trading at a P/E ratio of 33.15, which may seem high at first glance. However, a tip from InvestingPro suggests that it is actually low relative to the company’s near-term earnings growth, with a PEG ratio of 0.77 indicating potential undervaluation.
Analysts remain optimistic about WAB’s prospects, with 5 analysts revising its earnings for the coming period upward. The company’s perfect Piotroski Score of 9 further reinforces its strong financial position and operational efficiency.
For investors seeking a deeper understanding of WAB’s potential, InvestingPro offers 13 additional tips, providing a comprehensive analysis of the company’s strengths and its market position.
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