Westinghouse air brake exec sells over $140k in company stock

Westinghouse Air Brake Technologies Corp (NYSE:WAB) Director Brian Hehir has sold 857 shares of common stock, according to the company's latest SEC filing. The transaction, dated August 23, 2024, was executed at a price of $165.15 per share, resulting in a total sale amount of approximately $141,533.

The sale has adjusted Hehir's direct holdings in the company to 22,372.54 shares. Additionally, it is noted that Hehir has an indirect ownership of 4,200 shares through the Brian P. Hehir and Janet S. Hehir Foundation.

Investors often monitor insider transactions as they provide insights into how executives perceive the company's stock value and future performance. The recent transaction by Hehir might be of interest to current and potential shareholders keeping an eye on insider activity.

The filing, signed by David L. DeNinno as Power of Attorney for Brian P. Hehir, was submitted on August 26, 2024. Westinghouse Air Brake Technologies Corp, headquartered in Pittsburgh, Pennsylvania, is a leading provider of equipment, systems, and services for the transportation industry, particularly for the rail sector.

In other recent news, Wabtec Corporation reported a strong second quarter in 2024, with sales rising by 10% to $2.6 billion and adjusted earnings per share (EPS) increasing by 39%. The company has adjusted its EPS guidance for 2024, now expecting a range of $7.20 to $7.50, a 24.2% increase from the previous year's forecast. Additionally, Wabtec secured a multi-year order worth over $600 million for new locomotives.

The company's Freight segment saw a sales increase of 13.1%, while the Transit segment's sales rose by 2.0%. However, the Transit segment's backlog decreased by 5.0% from the previous year. Wabtec's cash flow from operations stood at $235 million, and its 12-month backlog reached $7.3 billion.

In terms of future expectations, Wabtec plans for mid-single-digit organic growth and double-digit EPS growth. The company also expects to prioritize mergers and acquisitions, as well as share buybacks with excess cash. These developments reflect Wabtec's ongoing focus on innovation, profitable growth, and operational efficiency.

InvestingPro Insights

Amidst the news of Director Brian Hehir's stock sale, Westinghouse Air Brake Technologies Corp (NYSE:WAB) presents several key financial metrics and expert analyses that may influence investor perception. With a market capitalization of approximately $28.94 billion, the company stands as a significant player in the transportation industry.

An InvestingPro Tip highlights the company's perfect Piotroski Score of 9, indicating strong financial health and suggesting that the fundamentals are robust. This score is particularly relevant as it may reassure investors in light of insider selling activity. Additionally, the fact that 9 analysts have revised their earnings upwards for the upcoming period signals potential optimism about the company's future financial performance.

From a valuation standpoint, WAB is trading at a price-to-earnings (P/E) ratio of 28.75, with an adjusted P/E ratio for the last twelve months as of Q2 2024 at 28.11. This is paired with a PEG ratio of 0.55, indicating that the stock may be undervalued relative to its earnings growth. The company also boasts a strong revenue growth of 13.67% over the last twelve months as of Q2 2024, reinforcing the positive outlook suggested by analysts.

For those interested in dividend reliability, WAB has maintained dividend payments for 30 consecutive years, with a recent dividend yield of 0.48%. This consistent return to shareholders could be a comforting factor for investors considering the long-term stability of their investments.

For more detailed analyses and additional InvestingPro Tips, including insights into the company's debt levels, profitability, and stock performance, investors can explore the full suite of tips available on InvestingPro. There are currently 6 more tips listed on the platform that could further inform investment decisions regarding Westinghouse Air Brake Technologies Corp.

With the next earnings date set for October 31, 2024, investors will be keenly awaiting further developments that could impact the stock's performance. The current fair value estimates from analysts stand at $181.05, while InvestingPro's fair value assessment comes in at $142.75, offering a range of perspectives on the company's valuation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.