GATX Corporation $GATX Stock: ProShare Advisors LLC Lowers Holdings

ProShare Advisors LLC cut its holdings in shares of GATX Corporation (NYSE:GATX) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,912 shares of the transportation company’s stock after selling 20,111 shares during the quarter. ProShare Advisors LLC owned approximately 0.44% of GATX worth $26,508,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GATX. Root Financial Partners LLC acquired a new stake in GATX during the third quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of GATX in the 2nd quarter worth about $32,000. Assetmark Inc. raised its holdings in shares of GATX by 50.8% during the first quarter. Assetmark Inc. now owns 196 shares of the transportation company’s stock valued at $33,000 after buying an additional 66 shares during the last quarter. Versant Capital Management Inc boosted its position in GATX by 23.3% during the 2nd quarter. Versant Capital Management Inc now owns 407 shares of the transportation company’s stock worth $72,000 after acquiring an additional 77 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in GATX by 53.2% in the third quarter. Farther Finance Advisors LLC now owns 688 shares of the transportation company’s stock worth $117,000 after purchasing an additional 239 shares during the period. Institutional investors own 93.14% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas A. Ellman sold 18,200 shares of GATX stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $180.08, for a total transaction of $3,277,456.00. Following the completion of the sale, the chief financial officer directly owned 34,361 shares of the company’s stock, valued at $6,187,728.88. The trade was a 34.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eren Doygun sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $179.52, for a total value of $179,520.00. Following the transaction, the senior vice president owned 5,323 shares of the company’s stock, valued at $955,584.96. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,700 shares of company stock valued at $3,900,976. 1.86% of the stock is currently owned by corporate insiders.

GATX Trading Up 4.3%

Shares of GATX stock opened at $188.98 on Tuesday. The company has a market capitalization of $6.67 billion, a P/E ratio of 17.55 and a beta of 1.19. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 3.44. GATX Corporation has a 12-month low of $150.42 and a 12-month high of $205.56. The firm has a 50-day moving average price of $173.92 and a 200 day moving average price of $178.93.

GATX (NYSE:GATX) last released its quarterly earnings results on Thursday, October 29th. The transportation company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.46. The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $592.66 million. GATX had a return on equity of 10.43% and a net margin of 17.94%. GATX’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.25 EPS. Research analysts forecast that GATX Corporation will post 10.30 earnings per share for the current fiscal year.

GATX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, December 15th. GATX’s dividend payout ratio is presently 24.51%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GATX. Susquehanna increased their price target on GATX from $218.00 to $220.00 and gave the company a “positive” rating in a research note on Friday, July 31st. Weiss Ratings lowered shares of GATX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Finally, Citigroup raised their target price on GATX from $215.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $219.33.

GATX Profile

GATX Corporation is a global asset-leasing company focused primarily on rail transportation. Through its rail businesses, the company owns, leases and manages a diverse fleet of freight railcars used to transport commodities and manufactured goods, including tank cars, covered and open hoppers, boxcars and specialized rail equipment. GATX also provides fleet management, maintenance and other services that support railcar customers.

GATX serves customers across North America and Europe through operations that include GATX Rail North America and GATX Rail Europe.