John A. Mastalerz Jr., the Senior Vice President of Finance, Corporate Controller, and Chief Accounting Officer at Westinghouse Air Brake Technologies Corp (NYSE:WAB), recently sold a significant portion of company stock. According to a filing with the Securities and Exchange Commission, Mastalerz sold 2,796 shares of common stock on November 6, 2024, at an average price of $199.71 per share. The total value of the transaction amounts to $558,395. Following this sale, Mastalerz holds 5,683 shares of the company directly.
In other recent news, Wabtec Corporation reported a robust Q3 performance, with sales surging 4.5% to $2.7 billion compared to the same period last year. The company also experienced an approximately 18% year-over-year increase in adjusted earnings per share (EPS), reaching $2.00. Wabtec's backlog grew 7.5% to $7.6 billion, with a total multiyear backlog of $22 billion.
Stephens raised its price target on Wabtec to $205.00, following Wabtec's third-quarter earnings per share (EPS) surpassing expectations. The company's recent contract wins, including a Tier 4 new locomotive contract and a long-term parts agreement with a North American Class 1 railroad, are seen as significant indicators of its strategic positioning. Wabtec's international business also experienced a strong phase, with the international locomotive orders pipeline reaching multi-year highs.
In addition to operational successes, Wabtec reported substantial cash flow in the third quarter, enabling the company to repurchase around 2% of its outstanding shares during the quarter. These recent developments include contracts with Kazakhstan's KTZ and Siemens (ETR:SIEGn) Mobility. Lastly, despite restructuring costs of $18 million and a decrease in service revenue due to a shift in production mix, Wabtec executives expressed confidence in the company's future performance.
InvestingPro Insights
While John A. Mastalerz Jr.'s recent stock sale might raise eyebrows, Westinghouse Air Brake Technologies Corp (NYSE:WAB) continues to demonstrate strong financial performance and market positioning. According to InvestingPro data, WAB's market capitalization stands at an impressive $34.92 billion, reflecting investor confidence in the company's future prospects.
The company's financial health is further underscored by its revenue growth of 9.23% over the last twelve months, reaching $10.33 billion. This growth trajectory is complemented by a robust EBITDA growth of 21.82% during the same period, indicating improved operational efficiency.
InvestingPro Tips highlight WAB's financial strength and market performance. The company has maintained dividend payments for 30 consecutive years, demonstrating a commitment to shareholder returns. Additionally, WAB has shown a strong return over the last year, with a remarkable 83.51% price total return over the past 12 months.
It's worth noting that WAB is trading near its 52-week high, with its current price at 98.59% of the 52-week high. This performance aligns with the InvestingPro Tip indicating a strong return over the last three months, which stands at an impressive 30.99%.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for WAB, providing deeper insights into the company's financial health and market position.
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