Gregory Sbrocco, the Executive Vice President of Operations at Westinghouse Air Brake Technologies Corp (NYSE:WAB), has sold a portion of his holdings in the company. According to the latest filings, Sbrocco sold 1,646 shares of common stock at a price of $167.30 per share, netting a total of $275,375.
This transaction, which took place on May 10, 2024, was disclosed in a regulatory filing with the Securities and Exchange Commission on May 13. Following the sale, Sbrocco's direct ownership in the company's common stock stands at 16,666 shares.
Westinghouse Air Brake Technologies Corp, known for its manufacturing in the railroad equipment sector, has seen its shares traded under the ticker symbol WAB on the New York Stock Exchange. The company, with a history dating back to its former names as WABTEC Corp and Westinghouse Air Brake Co, is incorporated in Delaware and has its fiscal year-end on December 31.
The sale by a high-ranking executive such as Sbrocco often draws the attention of investors as they monitor insider transactions for insights into company performance and executive confidence. The disclosure of such transactions is a routine part of compliance with SEC regulations for company insiders.
Investors and market watchers can stay informed on further insider transactions by following the company's filings and announcements.
InvestingPro Insights
As investors analyze the recent insider sale by Gregory Sbrocco, Executive Vice President of Operations at Westinghouse Air Brake Technologies Corp (NYSE:WAB), they can gain additional context from key financial metrics and expert analysis. Westinghouse Air Brake Technologies Corp, a key player in the railroad equipment manufacturing sector, presents a mix of stability and growth as reflected in its financial data and market performance.
With a market capitalization of $29.08 billion, the company stands as a significant entity in its industry. The P/E ratio, which offers insight into investor expectations about the company's earnings growth, stands at 32.06. This is slightly reduced when adjusted for the last twelve months as of Q1 2024, with a P/E ratio of 31.07. The PEG ratio, which relates the P/E ratio to the company's earnings growth rate, is currently at an attractive 0.76 for the same period, indicating potential undervaluation relative to expected earnings growth.
InvestingPro Tips highlight that Westinghouse Air Brake Technologies Corp has a strong financial foundation, with a perfect Piotroski Score of 9, suggesting robust fiscal health. Additionally, the company's stock is trading near its 52-week high, with a price that is 97.75% of this peak, reflecting a strong market performance. This is corroborated by the substantial year-to-date price total return of 32.85%. Moreover, 10 analysts have revised their earnings upwards for the upcoming period, which may indicate further positive momentum for the stock.
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