Allspring Global Investments Holdings LLC Trims Position in GATX Corporation $GATX

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in GATX Corporation by 9.5% during the second quarter, holding 40,178 shares valued at approximately $6.27 million.
• GATX received multiple analyst upgrades, with Citigroup initiating coverage with a "buy" rating and a price target of $201.00, while the average price target is around $183.50.
• The company recently announced a quarterly dividend of $0.61 per share, representing an annualized yield of 1.4%, with a payout ratio of 27.92%.

Allspring Global Investments Holdings LLC lessened its stake in shares of GATX Corporation (NYSE:GATX - Free Report) by 9.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,178 shares of the transportation company's stock after selling 4,196 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of GATX worth $6,274,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC grew its holdings in GATX by 117.0% during the 1st quarter. TCTC Holdings LLC now owns 243 shares of the transportation company's stock valued at $38,000 after buying an additional 131 shares in the last quarter. CWM LLC grew its holdings in shares of GATX by 12.7% during the first quarter. CWM LLC now owns 621 shares of the transportation company's stock worth $96,000 after purchasing an additional 70 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of GATX during the first quarter worth about $100,000. Hilltop National Bank purchased a new position in shares of GATX during the second quarter worth about $153,000. Finally, Forum Financial Management LP purchased a new position in shares of GATX during the first quarter worth about $208,000. Hedge funds and other institutional investors own 93.14% of the company's stock.

Analyst Upgrades and Downgrades

GATX has been the subject of several recent analyst reports. Citigroup initiated coverage on GATX in a report on Monday, September 22nd. They set a "buy" rating and a $201.00 price objective for the company. Susquehanna set a $190.00 price objective on GATX and gave the stock a "positive" rating in a report on Monday, August 18th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of GATX in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, GATX currently has an average rating of "Moderate Buy" and an average price target of $183.50.

Insider Activity

In other GATX news, CEO Robert C. Lyons sold 12,635 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $166.33, for a total value of $2,101,579.55. Following the sale, the chief executive officer owned 50,575 shares of the company's stock, valued at $8,412,139.75. This trade represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Geoffrey Phillips sold 2,100 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $168.74, for a total transaction of $354,354.00. Following the completion of the sale, the vice president directly owned 6,740 shares in the company, valued at approximately $1,137,307.60. This trade represents a 23.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,914 shares of company stock worth $2,953,509 in the last quarter. Insiders own 2.17% of the company's stock.

GATX Stock Performance

NYSE:GATX opened at $172.18 on Monday. The business has a 50 day moving average of $168.93 and a 200 day moving average of $157.36. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 19.70 and a beta of 1.18. GATX Corporation has a 1-year low of $130.95 and a 1-year high of $178.26. The company has a debt-to-equity ratio of 3.27, a current ratio of 2.93 and a quick ratio of 2.93.

GATX (NYSE:GATX - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.11. GATX had a return on equity of 12.52% and a net margin of 19.13%.The company had revenue of $430.50 million during the quarter, compared to the consensus estimate of $425.52 million. GATX has set its FY 2025 guidance at 8.500-8.900 EPS. On average, sell-side analysts predict that GATX Corporation will post 8.5 earnings per share for the current fiscal year.

GATX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.44 annualized dividend and a yield of 1.4%. GATX's dividend payout ratio is presently 27.92%.

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.

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