Verition Fund Management LLC increased its holdings in Trinity Industries Inc (NYSE:TRN) by 527.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 53,041 shares of the transportation company’s stock after acquiring an additional 65,458 shares during the period. Verition Fund Management LLC’s holdings in Trinity Industries were worth $1,987,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of TRN. Nationwide Fund Advisors grew its position in Trinity Industries by 5.4% in the third quarter. Nationwide Fund Advisors now owns 296,629 shares of the transportation company’s stock worth $9,462,000 after acquiring an additional 15,286 shares during the period. Canada Pension Plan Investment Board grew its position in Trinity Industries by 37.0% in the third quarter. Canada Pension Plan Investment Board now owns 113,200 shares of the transportation company’s stock worth $3,611,000 after acquiring an additional 30,600 shares during the period. Jennison Associates LLC grew its position in Trinity Industries by 15.3% in the third quarter. Jennison Associates LLC now owns 1,070,222 shares of the transportation company’s stock worth $34,140,000 after acquiring an additional 141,992 shares during the period. FDx Advisors Inc. purchased a new position in Trinity Industries in the third quarter worth approximately $322,000. Finally, New York State Common Retirement Fund grew its position in Trinity Industries by 3.0% in the third quarter. New York State Common Retirement Fund now owns 322,400 shares of the transportation company’s stock worth $10,285,000 after acquiring an additional 9,500 shares during the period. Institutional investors own 87.44% of the company’s stock.
Several research analysts recently weighed in on the company. Stifel Nicolaus set a $40.00 price objective on Trinity Industries and gave the stock a “buy” rating in a research report on Friday, February 9th. Vertical Group assumed coverage on Trinity Industries in a research report on Tuesday, March 6th. They issued a “sell” rating and a $20.00 price objective for the company. Vertical Research assumed coverage on Trinity Industries in a research report on Tuesday, March 6th. They issued a “sell” rating and a $20.00 price objective for the company. Wells Fargo & Co upgraded Trinity Industries from a “market perform” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Friday, February 16th. Finally, Zacks Investment Research upgraded Trinity Industries from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Saturday, February 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.75.
In related news, major shareholder Valueact Capital Master Fund, bought 306,343 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average cost of $32.99 per share, for a total transaction of $10,106,255.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Valueact bought 350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $32.85 per share, with a total value of $11,497,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 976,882 shares of company stock valued at $32,124,543. Company insiders own 2.00% of the company’s stock.
Trinity Industries Inc (NYSE TRN) opened at $32.72 on Friday. Trinity Industries Inc has a 52-week low of $25.01 and a 52-week high of $38.25. The company has a market capitalization of $5,004.29, a price-to-earnings ratio of 7.30, a PEG ratio of 2.50 and a beta of 2.03. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.43 and a current ratio of 3.47.
Trinity Industries (NYSE:TRN) last released its quarterly earnings results on Wednesday, February 21st. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. Trinity Industries had a return on equity of 5.34% and a net margin of 19.15%. The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was down 17.9% on a year-over-year basis. equities research analysts predict that Trinity Industries Inc will post 1.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, April 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.59%. Trinity Industries’s dividend payout ratio is currently 11.61%.
Trinity Industries declared that its board has initiated a share buyback plan on Tuesday, December 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Trinity Industries 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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