Mon, Aug. 15, 12:54 PM
Mon, Aug. 15, 9:02 AM
- Genesee & Wyoming (NYSE:GWR) announced that it acquired Providence and Worcester Railroad Company (NASDAQ:PWX) for $25.00 per share.
- The $126M deal is expected to close following the receipt of P&W shareholder approval in Q4.
- Upon approval by the Surface Transportation Board, P&W would be managed as part of G&W’s Northeast Region.
- The company expects the acquisition to unlock significant cost savings through overhead, operational, and long-term network efficiencies as well as to generate significant new commercial opportunities.
- G&W expects P&W will require approximately $3M of annual capital expenditures and have depreciation and amortization expense of approximately $3M.
- PWX +49.20% premarket to $24.32.
- Source: Press Release
Dec. 28, 2015, 12:33 PM
- Providence and Worcester Railroad (PWX +2.8%) Chairman & CEO Robert Eder sustained a head injury as a result of a fall while hiking. He underwent successful surgery to address intracranial bleeding and is expected to make a full recovery. He should return to work in several weeks.
Aug. 10, 2015, 6:54 AM
- A majority of railroads will fall short of meeting a deadline of the end of the year to install PTC technology, warns the Federal Railroad Administration.
- Companies could be assessed "substantial" fines if the deadline to install positive train control systems isn't completed on time.
- Related stocks: CSX, GWR, KSU, CP, UNP, CSX, CNI, PWX, OTCPK:PRRR.
Mar. 27, 2013, 2:29 PM
Are railroad stocks (KSU, UNP, NSC, GWR, PWX, CNI, BNI) ready to stay on track to see even higher levels? Despite valuations that are getting stretched after a broad sector rally, a compelling case can be made that shares will keep motoring higher. The industry will pour $14B into improvements this year and freight demand is forecast to soar 50% by 2050. The stat that makes the bull case all by itself: Trains can move a ton of freight about 500 miles on one gallon of fuel - an efficiency rate 3X or 4X better than trucks.| Mar. 27, 2013, 2:29 PM | 9 Comments
Feb. 7, 2013, 6:32 PMProvidence and Worcester Railroad Company (PWX) declares $0.04/share quarterly dividend, in line with previous. Forward yield 1.00%. For shareholders of record Feb. 13. Payable Feb. 27. Ex-div date Feb. 11. (PR) | Feb. 7, 2013, 6:32 PM
Jan. 22, 2013, 3:30 PMCommercial shipping traffic on the Mississippi River was halted at Granite City, Illinois after a vessel struck one of the Army Corp of Engineers locks on the river. The low level of several rivers in the Midwest has helped stoke up extra demand for railroad carriers as an alternative for transport. | Jan. 22, 2013, 3:30 PM | 1 Comment
Jan. 9, 2013, 10:58 AM
Railroad companies could see more demand with more reports now out that the low level of the Mississippi River will limit the ability of barges to run up and down the river. The biggest danger is that a 200-mile stretch of the mighty river between St. Louis, Missouri and Cairo, Illinois could be effectively closed. Waiting in the wings: CSX, RA, CNI, PWX, GWR, CP, NSC, KSU, UNP.| Jan. 9, 2013, 10:58 AM | 1 Comment
Nov. 30, 2012, 1:04 PM
Oct. 31, 2012, 6:11 PMProvidence and Worcester Railroad (PWX) declares $0.04/share quarterly dividend, in line with previous. Forward yield 1.14%. For shareholders of record Nov 14. Payable Nov 28. Ex-div date Nov 12. (PR) | Oct. 31, 2012, 6:11 PM
Mar. 5, 2012, 1:52 PM
Railroad stocks look attractive for a gamut of reasons, argues SA author Takeover Analyst. Strong management, high barriers to entry, and low valuations are all working in the favor of a sector that looks positioned to gain from secular trends. Railroad plays to watch include UNP, NSC, and CSX - as well as takeover candidates PRRR.PK and PWX.| Mar. 5, 2012, 1:52 PM | 1 Comment