Friedberg Investment Management Lowers stake in Westinghouse Air Brake Technologies Corp (WAB)

Westinghouse Air Brake Technologies Corp (WAB) : Friedberg Investment Management reduced its stake in Westinghouse Air Brake Technologies Corp by 2.27% during the most recent quarter end. The investment management company now holds a total of 73,320 shares of Westinghouse Air Brake Technologies Corp which is valued at $5,239,447 after selling 1,700 shares in Westinghouse Air Brake Technologies Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Westinghouse Air Brake Technologies Corp makes up approximately 2.42% of Friedberg Investment Management’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in WAB in the latest quarter, The investment management firm added 11,138 additional shares and now holds a total of 578,941 shares of Westinghouse Air Brake Technologies Corp which is valued at $41,371,124. Westinghouse Air Brake Technologies Corp makes up approx 0.02% of Blackrock Group Ltd’s portfolio.Buffington Mohr Mcneal reduced its stake in WAB by selling 510 shares or 6.68% in the most recent quarter. The Hedge Fund company now holds 7,130 shares of WAB which is valued at $514,715. Westinghouse Air Brake Technologies Corp makes up approx 0.22% of Buffington Mohr Mcneal’s portfolio.Tdam Usa reduced its stake in WAB by selling 2,070 shares or 8.92% in the most recent quarter. The Hedge Fund company now holds 21,143 shares of WAB which is valued at $1,526,313. Westinghouse Air Brake Technologies Corp makes up approx 0.07% of Tdam Usa’s portfolio.Quadrant Capital Group boosted its stake in WAB in the latest quarter, The investment management firm added 23 additional shares and now holds a total of 121 shares of Westinghouse Air Brake Technologies Corp which is valued at $8,289. Westinghouse Air Brake Technologies Corp makes up approx 0.01% of Quadrant Capital Group’s portfolio.

Westinghouse Air Brake Technologies Corp opened for trading at $72.69 and hit $74.43 on the upside on Friday, eventually ending the session at $74.34, with a gain of 1.40% or 1.03 points. The heightened volatility saw the trading volume jump to 8,02,807 shares. Company has a market cap of $6,700 M.

On the company’s financial health, Westinghouse Air Brake Technologies Corp reported $1.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus of $1.08. The company had revenue of $723.60 million for the quarter, compared to analysts expectations of $804.16 million. The company’s revenue was down -14.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Westinghouse Air Brake Technologies Corp. Shares were Reiterated by Wunderlich on Jul 25, 2016 to “Buy” and Lowered the Price Target to $ 100 from a previous price target of $115 .

Westinghouse Air Brake Technologies Corporation (Wabtec) is a provider of technology-based products and services to freight rail and passenger transit industries. The Company’s products are used in locomotives freight cars subway cars and buses and other vehicles in United States and other countries across the world. The Company operates through two business segments: the Freight Segment and the Transit Segment. The Freight Segment manufactures and services components for new and existing locomotive and freight cars supplies railway electronics positive train control equipment signal design and engineering services builds switcher locomotives rebuilds freight locomotives and provides heat exchangers and cooling systems for rail and other industrial markets. The Transit Segment manufactures and services components for new and existing passenger transit vehicles such as subway cars and buses builds new commuter locomotives and refurbishes subway cars.

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