Envestnet Asset Management Inc. Has $34.56 Million Stake in GATX Corporation $GATX

Envestnet Asset Management Inc. reduced its stake in shares of GATX Corporation (NYSE:GATX) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,681 shares of the transportation company’s stock after selling 3,387 shares during the quarter. Envestnet Asset Management Inc. owned about 0.55% of GATX worth $34,555,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charter Capital Management LLC DE bought a new stake in shares of GATX during the third quarter worth $515,000. Edgestream Partners L.P. acquired a new position in GATX in the 2nd quarter worth $2,244,000. JPMorgan Chase & Co. increased its holdings in GATX by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 181,659 shares of the transportation company’s stock worth $27,896,000 after purchasing an additional 9,667 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of GATX by 179.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,591 shares of the transportation company’s stock valued at $2,701,000 after purchasing an additional 11,290 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of GATX by 3.1% in the second quarter. Rhumbline Advisers now owns 120,642 shares of the transportation company’s stock valued at $18,526,000 after purchasing an additional 3,589 shares in the last quarter. 93.14% of the stock is currently owned by institutional investors and hedge funds.

GATX Stock Performance

Shares of GATX stock opened at $189.08 on Thursday. The company has a fifty day moving average price of $176.56 and a two-hundred day moving average price of $167.92. GATX Corporation has a one year low of $139.44 and a one year high of $191.75. The stock has a market cap of $6.75 billion, a P/E ratio of 22.09 and a beta of 1.19. The company has a debt-to-equity ratio of 3.26, a current ratio of 3.81 and a quick ratio of 3.81.

Analyst Upgrades and Downgrades

GATX has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of GATX in a report on Thursday, January 22nd. Susquehanna upped their price target on GATX from $192.00 to $212.00 and gave the stock a “positive” rating in a research report on Monday, January 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $204.00 price objective on shares of GATX in a report on Wednesday, January 14th. Finally, Citigroup boosted their price objective on shares of GATX from $192.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $204.67.

Insiders Place Their Bets

In other GATX news, SVP Aken Jennifer Van sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $164.15, for a total transaction of $295,470.00. Following the transaction, the senior vice president owned 5,912 shares of the company’s stock, valued at $970,454.80. The trade was a 23.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.17% of the stock is currently owned by company insiders.

About GATX

GATX Corporation (NYSE: GATX) is a global railcar leasing and asset management company headquartered in Chicago, Illinois. Founded in 1898 as General American Transportation Corporation, GATX has grown into one of the world’s leading lessors of railcars, marine vessels and industrial assets. The company’s core business focuses on leasing and managing high-value equipment for customers in the energy, industrial, chemical, agricultural and metals markets.

In its Rail North America segment, GATX owns and manages a diverse fleet of more than 60,000 railcars, including tank cars, covered hoppers, boxcars and flatcars.