Victory Capital Management Inc. Sells 274 Shares of GATX Co. (NYSE:GATX)

Victory Capital Management Inc. lowered its stake in shares of GATX Co. (NYSE:GATX) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,824 shares of the transportation company’s stock after selling 274 shares during the period. Victory Capital Management Inc.’s holdings in GATX were worth $1,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Earnest Partners LLC raised its holdings in GATX by 2.2% in the 2nd quarter. Earnest Partners LLC now owns 3,118,084 shares of the transportation company’s stock valued at $412,710,000 after acquiring an additional 68,243 shares during the period. Sei Investments Co. lifted 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 holdings in 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 buying an additional 120,149 shares during the period. Bank of New York Mellon Corp lifted its stake 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 during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in GATX by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 347,451 shares of the transportation company’s stock worth $45,989,000 after acquiring an additional 20,985 shares in the last quarter. Institutional investors own 93.14% of the company’s stock.

GATX Price Performance

GATX opened at $165.79 on Tuesday. GATX Co. has a 1 year low of $106.92 and a 1 year high of $167.25. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 22.17 and a beta of 0.95. The firm’s fifty day moving average price is $140.54 and its two-hundred day moving average price is $137.70. The company has a debt-to-equity ratio of 3.41, a current ratio of 3.41 and a quick ratio of 3.41.

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

GATX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, December 13th. GATX’s dividend payout ratio (DPR) is currently 31.02%.

Insider Transactions at GATX

In other GATX news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of GATX stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $133.65 per share, for a total transaction of $1,200,711.60. Following the completion of the transaction, the insider now directly owns 3,312,294 shares in the company, valued at $442,688,093.10. This represents a 0.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Susquehanna upped their target price on GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group started coverage on GATX in a research report on Monday, November 18th. They issued a “buy” rating and a $185.00 target price for the company.

GATX Profile

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.