PIMCO Increases Their Already Significant Position in FreightCar America (RAIL)

Fintel reportst that PIMCO has filed a 13D/A form with the SEC disclosing ownership of 11,132,419 shares of FreightCar America, Inc. (RAIL). This represents 41.3% of the company.

In their previous filing dated August 8, 2022 they reported 10,632,441 shares and 40.20% of the company, an increase in shares of 4.70% and an increase in total ownership of 1.10% (calculated as current – previous percent ownership).

What are other large shareholders doing?

Allianz Asset Management GmbH holds 1,128,837 shares representing 6.76% ownership of the company. In it’s prior filing, the firm reported owning 879,012 shares, representing an increase of 22.13%. The firm increased its portfolio allocation in RAIL by 36.71% over the last quarter.

Minerva Advisors LLC holds 786,084 shares representing 4.71% ownership of the company. In it’s prior filing, the firm reported owning 692,524 shares, representing an increase of 11.90%. The firm decreased its portfolio allocation in RAIL by 23.29% over the last quarter.

Vanguard Group Inc holds 534,669 shares representing 3.20% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 329,338 shares representing 1.97% ownership of the company. No change in the last quarter.

Wittenberg Investment Management, Inc. holds 270,711 shares representing 1.62% ownership of the company. In it’s prior filing, the firm reported owning 190,711 shares, representing an increase of 29.55%. The firm decreased its portfolio allocation in RAIL by 2.01% over the last quarter.

What is the overall institutional sentiment?

There are 60 funds or institutions reporting positions in FreightCar America, Inc.. This is a decrease of 5 owner(s) or 7.69%.

Average portfolio weight of all funds dedicated to FreightCar America, Inc. is 0.0465%, a decrease of 30.1977%. Total shares owned by institutions decreased in the last three months by 0.74% to 4,158,117 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel