Norges Bank Invests $23.70 Million in GATX Co. (GATX) Stock

Norges Bank purchased a new position in GATX Co. (NYSE:GATX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 334,745 shares of the transportation company’s stock, valued at approximately $23,703,000. Norges Bank owned about 0.89% of GATX as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of GATX by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 55,306 shares of the transportation company’s stock worth $3,916,000 after acquiring an additional 351 shares during the last quarter. Millennium Management LLC increased its stake in shares of GATX by 116.9% in the 4th quarter. Millennium Management LLC now owns 26,297 shares of the transportation company’s stock worth $1,862,000 after acquiring an additional 14,171 shares during the last quarter. Legal & General Group Plc increased its stake in shares of GATX by 5.6% in the 4th quarter. Legal & General Group Plc now owns 55,848 shares of the transportation company’s stock worth $3,955,000 after acquiring an additional 2,947 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of GATX by 5.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 9,576 shares of the transportation company’s stock worth $678,000 after acquiring an additional 487 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of GATX in the 4th quarter worth $642,000.

Shares of GATX opened at $78.26 on Monday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $2.85 billion, a PE ratio of 14.99, a P/E/G ratio of 1.05 and a beta of 1.51. GATX Co. has a 1 year low of $63.98 and a 1 year high of $91.12.

GATX (NYSE:GATX) last announced its quarterly earnings data on Tuesday, January 22nd. The transportation company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. The business had revenue of $356.40 million during the quarter, compared to analysts’ expectations of $348.64 million. GATX had a return on equity of 10.97% and a net margin of 15.53%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $8.83 EPS. As a group, sell-side analysts expect that GATX Co. will post 4.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Monday, March 4th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from GATX’s previous quarterly dividend of $0.44. GATX’s dividend payout ratio (DPR) is presently 35.25%.

In other news, SVP Jeffery R. Young sold 2,223 shares of GATX stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $77.48, for a total value of $172,238.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffery R. Young sold 1,273 shares of GATX stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $75.89, for a total value of $96,607.97. Following the completion of the transaction, the senior vice president now owns 5,627 shares of the company’s stock, valued at approximately $427,033.03. The disclosure for this sale can be found here. Insiders sold a total of 5,022 shares of company stock valued at $385,753 in the last quarter. Company insiders own 3.72% of the company’s stock.

A number of analysts have issued reports on GATX shares. Mizuho set a $87.00 target price on GATX and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Zacks Investment Research raised GATX from a “sell” rating to a “hold” rating in a research note on Monday, February 11th. Finally, Wells Fargo & Co set a $90.00 target price on GATX and gave the stock an “outperform” rating in a research note on Wednesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.00.

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GATX Profile

GATX Corporation leases, operates, manages, and remarkets assets in the rail and marine markets worldwide. The company operates through four segments: Rail North America, Rail International, Portfolio Management, and American Steamship Company (ASC). The Rail North America segment primarily leases railcars and locomotives.

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Institutional Ownership by Quarter for GATX (NYSE:GATX)

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