Envestnet Asset Management Inc. Decreases Stock Holdings in GATX Corporation (NYSE:GATX)

Envestnet Asset Management Inc. trimmed its stake in shares of GATX Corporation (NYSE:GATX) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,210 shares of the transportation company’s stock after selling 7,214 shares during the period. Envestnet Asset Management Inc. owned approximately 0.57% of GATX worth $31,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GATX. Assetmark Inc. increased its holdings in GATX by 60.4% during the fourth quarter. Assetmark Inc. now owns 178 shares of the transportation company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GATX during the first quarter valued at approximately $30,000. Brown Brothers Harriman & Co. purchased a new stake in GATX during the fourth quarter valued at approximately $39,000. Orion Capital Management LLC purchased a new stake in GATX during the fourth quarter valued at approximately $39,000. Finally, UMB Bank n.a. increased its holdings in GATX by 101.2% during the first quarter. UMB Bank n.a. now owns 328 shares of the transportation company’s stock valued at $51,000 after buying an additional 165 shares during the last quarter. 93.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GATX has been the subject of a number of research reports. Susquehanna reduced their target price on shares of GATX from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of GATX in a research report on Wednesday, April 23rd.

GATX Stock Up 0.7%

Shares of GATX stock opened at $159.04 on Tuesday. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.14 and a quick ratio of 4.14. GATX Corporation has a 1 year low of $127.70 and a 1 year high of $168.89. The firm’s 50-day moving average is $152.69 and its two-hundred day moving average is $154.54. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 20.16 and a beta of 1.16.

GATX (NYSE:GATX) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.06. GATX had a net margin of 17.73% and a return on equity of 12.00%. The company had revenue of $421.60 million for the quarter, compared to analysts’ expectations of $417.06 million. During the same period in the prior year, the business earned $2.01 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that GATX Corporation will post 8.5 earnings per share for the current fiscal year.

GATX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, June 13th. GATX’s dividend payout ratio (DPR) is presently 30.93%.

Insider Buying and Selling

In other GATX news, EVP Paul F. Titterton sold 18,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $156.66, for a total transaction of $2,929,542.00. Following the completion of the transaction, the executive vice president directly owned 10,468 shares of the company’s stock, valued at approximately $1,639,916.88. This trade represents a 64.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jennifer Mcmanus sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $154.92, for a total transaction of $278,856.00. Following the transaction, the vice president directly owned 3,468 shares of the company’s stock, valued at $537,262.56. This represents a 34.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.17% of the stock is owned by company insiders.

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.