Nordea Investment Management AB Increases Stake in GATX Corporation (GATX)
Nordea Investment Management AB grew its position in GATX Corporation (NYSE:GATX) by 13.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,485 shares of the transportation company’s stock after purchasing an additional 3,637 shares during the period. Nordea Investment Management AB owned approximately 0.08% of GATX Corporation worth $2,024,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of GATX Corporation by 2.9% in the second 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 period. State Treasurer State of Michigan raised its holdings in shares of GATX Corporation by 0.6% during the second quarter. State Treasurer State of Michigan now owns 16,090 shares of the transportation company’s stock worth $1,034,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of GATX Corporation by 0.6% during the second quarter. Arizona State Retirement System now owns 16,500 shares of the transportation company’s stock worth $1,060,000 after purchasing an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of GATX Corporation by 1.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 12,660 shares of the transportation company’s stock worth $814,000 after purchasing an additional 120 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of GATX Corporation by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,233 shares of the transportation company’s stock worth $990,000 after purchasing an additional 130 shares during the last quarter.
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Shares of GATX Corporation (NYSE GATX) opened at 62.60 on Wednesday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 10.55 and a beta of 1.20. The company’s 50-day moving average is $60.76 and its 200-day moving average is $61.21. GATX Corporation has a one year low of $42.21 and a one year high of $66.30.
GATX Corporation (NYSE:GATX) last released its earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The business had revenue of $348.40 million for the quarter, compared to analyst estimates of $352.64 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that GATX Corporation will post $4.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. GATX Corporation’s dividend payout ratio (DPR) is 28.38%.
In other GATX Corporation news, VP Jeffery R. Young sold 2,910 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $58.70, for a total value of $170,817.00. Following the transaction, the vice president now directly owns 6,881 shares of the company’s stock, valued at approximately $403,914.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.50% of the company’s stock.
A number of research analysts recently issued reports on GATX shares. Zacks Investment Research downgraded shares of GATX Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Axiom Securities reaffirmed a “sell” rating on shares of GATX Corporation in a research report on Wednesday, July 26th. BidaskClub downgraded GATX Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, September 9th. ValuEngine upgraded GATX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Cowen and Company reiterated a “hold” rating and set a $63.00 price objective on shares of GATX Corporation in a research note on Monday, August 28th. 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 given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.50.
GATX Corporation Profile
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.
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