Is Westinghouse Air Brake Technologies Corp (WAB) a Good Stock To Buy?

On the other hand, there are some funds that decided to close their positions in Westinghouse Air Brake Technologies during the third quarter. It’s worth mentioning that George Hall’s Clinton Group dropped the largest position of the “upper crust” of funds monitored by Insider Monkey, valued at about $17.8 million in stock, and Clint Carlson’s Carlson Capital was right behind this move, as the fund dumped about $17.5 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Westinghouse Air Brake Technologies Corp (NYSE:WAB) but similarly valued. We will take a look at Aqua America Inc (NYSE:WTR), Packaging Corp Of America (NYSE:PKG), Leucadia National Corp. (NYSE:LUK), and IDEX Corporation (NYSE:IEX). This group of stocks’ market caps resemble WAB’s market cap.

As you can see these stocks had an average of 20 investors with bullish positions and the average amount invested in these stocks was $317 million. That figure was $505 million in WAB’s case. Leucadia National Corp. (NYSE:LUK) is the most popular stock in this table, while Aqua America Inc (NYSE:WTR) is the least popular one with only 13 bullish hedge fund positions. Westinghouse Air Brake Technologies Corp (NYSE:WAB) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Leucadia National Corp. (NYSE:LUK) might be a better candidate to consider a long position.