BofA revises BoE rate cut forecast to quarterly pace
Westinghouse Air Brake Technologies Corp (NYSE:WAB), a $34.9 billion market cap company trading near its 52-week high of $210.88, saw its Executive Vice President and Chief Administrative Officer Nicole Theophilus sell 2,000 shares of the company’s common stock. The stock has delivered a strong 25% return over the past year, though InvestingPro analysis suggests it may be trading above its Fair Value. The shares were sold on June 11 at a weighted average price of $204.14, totaling approximately $408,285. Following this transaction, Theophilus retains ownership of 17,088 shares in the company.
According to the filing, the shares were sold in multiple transactions at prices ranging from $204.14 to $204.15. The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by David L. DeNinno, acting as Power of Attorney for Nicole Theophilus.
In other recent news, Wabtec Corporation reported its first-quarter earnings with an adjusted earnings per share (EPS) of $2.28, surpassing analyst expectations of $2.03. The company’s revenue for the quarter matched the consensus estimate at $2.61 billion, marking a 4.5% increase from the same period last year. Wabtec also updated its financial guidance for the fiscal year 2025, with adjusted EPS expectations ranging from $8.35 to $8.95, indicating a cautious yet strategic approach to the current economic conditions. Additionally, Wabtec has announced the pricing of a $1.25 billion senior notes offering, which includes $500 million of 4.900% senior notes due in 2030 and $750 million of 5.500% senior notes due in 2035. The proceeds from this offering will be used for general corporate purposes, including repaying existing notes and financing part of an acquisition. In another development, the company declared a regular quarterly dividend of 25 cents per share, to be paid on June 10, 2025. Furthermore, Wabtec expanded its subsidiary guarantors by adding Wabtec US Rail, Inc., enhancing the company’s financial undertakings. These recent developments reflect Wabtec’s ongoing efforts to maintain robust financial health and strategic growth in the rail industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.