SageView Advisory Group LLC Lowers Holdings in GATX Co. (NYSE:GATX)

SageView Advisory Group LLC reduced its stake in shares of GATX Co. (NYSE:GATX) by 15.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,759 shares of the transportation company’s stock after selling 861 shares during the period. SageView Advisory Group LLC’s holdings in GATX were worth $630,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Earnest Partners LLC boosted its holdings in GATX by 2.2% during the second quarter. Earnest Partners LLC now owns 3,118,084 shares of the transportation company’s stock worth $412,710,000 after buying an additional 68,243 shares in the last quarter. Sei Investments Co. grew its position in shares of GATX by 4.9% during the 2nd quarter. Sei Investments Co. now owns 869,643 shares of the transportation company’s stock valued at $115,106,000 after acquiring an additional 40,924 shares during the period. American Century Companies Inc. increased its stake in shares of GATX by 16.9% in the 2nd quarter. American Century Companies Inc. now owns 831,625 shares of the transportation company’s stock valued at $110,074,000 after purchasing an additional 120,149 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in GATX by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 474,729 shares of the transportation company’s stock worth $62,878,000 after purchasing an additional 17,255 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in GATX by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 378,274 shares of the transportation company’s stock worth $50,068,000 after purchasing an additional 5,686 shares in the last quarter. Hedge funds and other institutional investors own 93.14% of the company’s stock.

Insiders Place Their Bets

In other GATX news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the acquisition, the insider now owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. The trade was a 0.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GATX shares. Sidoti cut GATX from a “buy” rating to a “neutral” rating and set a $158.00 price objective for the company. in a research report on Wednesday. Susquehanna boosted their price target on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group assumed coverage on shares of GATX in a report on Monday, November 18th. They set a “buy” rating and a $185.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, GATX currently has an average rating of “Hold” and an average price target of $151.80.

GATX Stock Up 1.0 %

Shares of GATX opened at $160.83 on Friday. The stock has a 50 day moving average price of $145.72 and a 200 day moving average price of $139.57. GATX Co. has a one year low of $111.13 and a one year high of $167.25. The company has a debt-to-equity ratio of 3.41, a quick ratio of 3.41 and a current ratio of 3.41. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.50 and a beta of 0.99.

GATX (NYSE:GATX) last released its earnings results on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.54. The business had revenue of $405.40 million during the quarter, compared to analyst estimates of $391.65 million. GATX had a net margin of 17.76% and a return on equity of 11.98%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Equities research analysts forecast that GATX Co. will post 7.6 earnings per share for the current fiscal year.

GATX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.58 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.32 annualized dividend and a dividend yield of 1.44%. GATX’s dividend payout ratio is presently 31.02%.

About GATX

GATX Corporation, together its subsidiaries, operates as railcar leasing company in the United States, Canada, Mexico, Europe, and India. It operates through three segments: Rail North America, Rail International, and Portfolio Management. The company leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries.