Greenwood Gearhart Inc. increased its stake in Trinity Industries, Inc. (NYSE:TRN) by 2.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,800 shares of the transportation company’s stock after acquiring an additional 3,590 shares during the quarter. Greenwood Gearhart Inc. owned approximately 0.10% of Trinity Industries worth $4,199,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of TRN. UBS Asset Management Americas Inc. grew its holdings in shares of Trinity Industries by 7.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 122,677 shares of the transportation company’s stock worth $3,257,000 after acquiring an additional 8,247 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Trinity Industries by 16.8% in the first quarter. OppenheimerFunds Inc. now owns 43,537 shares of the transportation company’s stock worth $1,156,000 after buying an additional 6,256 shares during the period. Principal Financial Group Inc. boosted its position in shares of Trinity Industries by 2.7% in the first quarter. Principal Financial Group Inc. now owns 621,010 shares of the transportation company’s stock worth $16,488,000 after buying an additional 16,078 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Trinity Industries in the first quarter worth $2,506,000. Finally, Advantus Capital Management Inc boosted its position in shares of Trinity Industries by 3.0% in the first quarter. Advantus Capital Management Inc now owns 19,486 shares of the transportation company’s stock worth $517,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.
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In other news, major shareholder Holdings L.P. Valueact bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average cost of $27.38 per share, for a total transaction of $2,738,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Valueact Capital Master Fund, bought 60,819 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $28.39 per share, with a total value of $1,726,651.41. The disclosure for this purchase can be found here. Insiders purchased a total of 1,709,624 shares of company stock valued at $48,298,143 over the last quarter. 2.00% of the stock is currently owned by company insiders.
Several analysts have recently commented on the company. Cowen and Company raised their target price on Trinity Industries from $31.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 target price (up previously from $29.00) on shares of Trinity Industries in a research report on Tuesday, October 3rd. ValuEngine cut Trinity Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Buckingham Research raised their target price on Trinity Industries from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $41.00 target price (up previously from $34.00) on shares of Trinity Industries in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $34.25.
Trinity Industries (NYSE:TRN) last issued its earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Trinity Industries had a net margin of 6.20% and a return on equity of 5.75%. The business had revenue of $905.50 million during the quarter, compared to the consensus estimate of $947.40 million. During the same period last year, the business posted $0.62 EPS. Trinity Industries’s revenue was down 23.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a $0.13 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.52 annualized dividend and a yield of 1.52%. Trinity Industries’s dividend payout ratio (DPR) is currently 32.10%.
About Trinity Industries
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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