First Citizens Bank & Trust Co. lowered its stake in shares of Trinity Industries Inc (NYSE:TRN) by 35.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,984 shares of the transportation company’s stock after selling 3,878 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Trinity Industries were worth $262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. grew its holdings in shares of Trinity Industries by 10.7% during the third quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock worth $550,438,000 after buying an additional 1,672,510 shares during the last quarter. Cipher Capital LP purchased a new position in shares of Trinity Industries during the third quarter worth about $816,000. Chesapeake Asset Management LLC grew its holdings in shares of Trinity Industries by 95.9% during the third quarter. Chesapeake Asset Management LLC now owns 54,497 shares of the transportation company’s stock worth $1,738,000 after buying an additional 26,682 shares during the last quarter. Zuckerman Investment Group LLC grew its holdings in shares of Trinity Industries by 111.4% during the third quarter. Zuckerman Investment Group LLC now owns 329,933 shares of the transportation company’s stock worth $10,525,000 after buying an additional 173,883 shares during the last quarter. Finally, Harris Associates L P purchased a new position in shares of Trinity Industries during the second quarter worth about $1,927,000. 82.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Valueact Capital Master Fund, purchased 13,687 shares of Trinity Industries stock in a transaction dated Friday, November 3rd. The stock was bought at an average cost of $31.98 per share, for a total transaction of $437,710.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William A. Mcwhirter sold 20,000 shares of Trinity Industries stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $36.90, for a total transaction of $738,000.00. Following the sale, the senior vice president now owns 191,339 shares of the company’s stock, valued at $7,060,409.10. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,722,237 shares of company stock valued at $55,164,869. 2.00% of the stock is owned by insiders.
Shares of Trinity Industries Inc (NYSE:TRN) opened at $37.15 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.70 and a quick ratio of 2.62. The company has a market cap of $5,640.00, a PE ratio of 24.77, a P/E/G ratio of 2.74 and a beta of 2.27. Trinity Industries Inc has a 12-month low of $25.01 and a 12-month high of $38.25.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.11. The firm had revenue of $973.60 million during the quarter, compared to the consensus estimate of $951.60 million. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. equities analysts forecast that Trinity Industries Inc will post 1.48 EPS for the current year.
Trinity Industries announced that its board has initiated a share buyback plan on Tuesday, December 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be given a $0.13 dividend. The ex-dividend date is Thursday, January 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.40%. Trinity Industries’s payout ratio is currently 34.67%.
A number of equities analysts recently issued reports on TRN shares. Cowen raised their price target on Trinity Industries from $36.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, December 13th. Susquehanna Bancshares raised Trinity Industries from a “neutral” rating to a “positive” rating in a report on Monday, November 6th. ValuEngine lowered Trinity Industries from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. UBS Group raised Trinity Industries from a “neutral” rating to a “positive” rating in a report on Monday, November 6th. Finally, Citigroup raised Trinity Industries from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $45.00 to $36.00 in a report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Trinity Industries currently has an average rating of “Buy” and an average target price of $36.25.
Trinity Industries Company Profile
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation and construction sectors. The Company’s products and services include railcars and railcar parts; parts and steel components; the leasing, management and maintenance of railcars; highway products; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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