Allspring Global Investments Holdings LLC Sells 9,445 Shares of GATX Co. (NYSE:GATX)

Allspring Global Investments Holdings LLC reduced its stake in shares of GATX Co. (NYSE:GATX) by 25.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,689 shares of the transportation company’s stock after selling 9,445 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of GATX worth $3,667,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in GATX by 16.9% during 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 during the last quarter. Earnest Partners LLC grew its holdings in GATX by 2.7% during the 1st quarter. Earnest Partners LLC now owns 3,049,841 shares of the transportation company’s stock valued at $408,770,000 after buying an additional 80,087 shares in the last quarter. Sei Investments Co. grew its holdings in shares of GATX by 5.7% in the first quarter. Sei Investments Co. now owns 828,719 shares of the transportation company’s stock valued at $111,073,000 after purchasing an additional 44,517 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of GATX by 46.4% in the second quarter. AE Wealth Management LLC now owns 71,366 shares of the transportation company’s stock valued at $9,446,000 after purchasing an additional 22,619 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of GATX by 396.5% in the second quarter. Creative Planning now owns 27,858 shares of the transportation company’s stock valued at $3,687,000 after purchasing an additional 22,247 shares in the last quarter. 93.14% of the stock is owned by hedge funds and other institutional investors.

GATX Stock Up 0.9 %

Shares of GATX opened at $138.99 on Tuesday. GATX Co. has a 12-month low of $101.56 and a 12-month high of $151.33. The firm has a fifty day moving average price of $135.91 and a 200-day moving average price of $134.81. The firm has a market capitalization of $4.95 billion, a P/E ratio of 19.80 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 4.97 and a debt-to-equity ratio of 3.41.

GATX (NYSE:GATX) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.54. The company 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 firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities research analysts expect that GATX Co. will post 7.6 earnings per share for the current year.

GATX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 annualized dividend and a dividend yield of 1.67%. GATX’s dividend payout ratio (DPR) is currently 33.05%.

Insider Buying and Selling

In other GATX news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the acquisition, the insider now owns 3,312,294 shares in the company, valued at $442,688,093.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Susquehanna raised their price target on GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st.

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.