California Public Employees Retirement System reduced its position in GATX Corporation (NYSE:GATX) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,889 shares of the transportation company’s stock after selling 3,500 shares during the period. California Public Employees Retirement System owned about 0.34% of GATX Corporation worth $8,348,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised its holdings in GATX Corporation by 2.9% in the 2nd quarter. IFP Advisors Inc now owns 2,259 shares of the transportation company’s stock worth $145,000 after acquiring an additional 64 shares during the last quarter. State Treasurer State of Michigan raised its holdings in GATX Corporation by 0.6% in the 2nd quarter. State Treasurer State of Michigan now owns 16,090 shares of the transportation company’s stock worth $1,034,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System raised its holdings in GATX Corporation by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 16,500 shares of the transportation company’s stock worth $1,060,000 after acquiring an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in GATX Corporation by 1.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 12,660 shares of the transportation company’s stock worth $814,000 after acquiring an additional 120 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in GATX Corporation by 0.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,233 shares of the transportation company’s stock worth $990,000 after acquiring an additional 130 shares during the last quarter.
In related news, VP Jeffery R. Young sold 2,910 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $58.70, for a total transaction of $170,817.00. Following the completion of the transaction, the vice president now owns 6,881 shares of the company’s stock, valued at $403,914.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.
Shares of GATX Corporation (NYSE GATX) opened at 62.49 on Wednesday. GATX Corporation has a 52 week low of $42.21 and a 52 week high of $66.30. The firm’s 50-day moving average is $60.95 and its 200-day moving average is $61.37. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.53 and a beta of 1.20.
GATX Corporation (NYSE:GATX) last issued its earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.21. GATX Corporation had a net margin of 17.09% and a return on equity of 17.83%. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same quarter last year, the company posted $1.49 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts forecast that GATX Corporation will post $4.60 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.69%. GATX Corporation’s dividend payout ratio (DPR) is presently 28.38%.
A number of equities analysts recently weighed in on GATX shares. Axiom Securities restated a “sell” rating on shares of GATX Corporation in a report on Friday, June 16th. Zacks Investment Research lowered shares of GATX Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Citigroup Inc. decreased their price objective on shares of GATX Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, July 21st. Stifel Nicolaus upgraded shares of GATX Corporation from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $50.00 to $54.00 in a report on Monday, July 17th. Finally, Buckingham Research started coverage on shares of GATX Corporation in a report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.50.
COPYRIGHT VIOLATION WARNING: This story was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://stocknewstimes.com/2017/10/11/gatx-corporation-gatx-position-trimmed-by-california-public-employees-retirement-system.html.
About GATX Corporation
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
Want to see what other hedge funds are holding GATX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GATX Corporation (NYSE:GATX).
Receive News & Ratings for GATX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GATX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.