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PITTSBURGH—Rafael Santana, President and CEO of Westinghouse Air Brake Technologies Corp (NYSE:WAB), recently executed a series of stock sales, according to a filing with the Securities and Exchange Commission. On April 3, Santana sold a total of 56,942 shares of common stock in multiple transactions. The sales were conducted at prices ranging from $174.10 to $180.33 per share, netting approximately $9.83 million. The timing is notable as the stock has experienced an 11% decline over the past week, though InvestingPro analysis suggests the company remains slightly undervalued at current levels.
Following these transactions, Santana retains ownership of 145,616 shares in the company. These transactions were carried out under a pre-arranged trading plan, indicating they were part of a systematic and planned sale strategy. The company maintains strong financial health with a GOOD rating from InvestingPro, supported by 31 consecutive years of dividend payments.
Westinghouse Air Brake Technologies Corp, known as Wabtec, is a leading provider of equipment, systems, and services for the global rail industry. The company has its headquarters in Pittsburgh, Pennsylvania. With a market capitalization of $27.3 billion and consistent profitability, Wabtec demonstrates solid fundamentals. For deeper insights into Wabtec's valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Wabtec Corporation reported its fourth-quarter 2024 earnings, revealing an adjusted earnings per share (EPS) of $1.68, which fell short of the forecasted $1.74. The company also reported revenues of $2.58 billion, missing the expected $2.63 billion. In a strategic move, Wabtec announced its acquisition of Dellner Couplers for $960 million, a deal expected to enhance its Transit business and generate significant synergies. KeyBanc Capital Markets maintained its Overweight rating and $220 price target for Wabtec, expressing confidence in the company's growth trajectory despite recent stock price fluctuations. The firm highlighted Wabtec's strategic focus on mergers and acquisitions as a potential driver for earnings growth. Wabtec's management outlined ambitious five-year targets, including mid-single-digit organic sales growth and a double-digit EPS compound annual growth rate through 2029. The acquisition of Dellner Couplers is projected to contribute around $250 million in revenue by 2025, aligning with Wabtec's long-term vision of innovation and productivity in passenger rail. These recent developments underscore Wabtec's ongoing efforts to expand its market presence and drive technological advancements in the rail industry.
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