Quantitative Investment Management LLC lowered its stake in shares of Trinity Industries Inc (NYSE:TRN) by 26.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,700 shares of the transportation company’s stock after selling 51,500 shares during the quarter. Quantitative Investment Management LLC owned 0.09% of Trinity Industries worth $5,345,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. ValueAct Holdings L.P. grew its stake in Trinity Industries by 10.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock valued at $550,438,000 after purchasing an additional 1,672,510 shares during the period. Janus Henderson Group PLC grew its stake in Trinity Industries by 16.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,512,499 shares of the transportation company’s stock valued at $143,949,000 after purchasing an additional 633,336 shares during the period. Impala Asset Management LLC grew its stake in Trinity Industries by 8.5% in the 3rd quarter. Impala Asset Management LLC now owns 2,130,641 shares of the transportation company’s stock valued at $67,967,000 after purchasing an additional 167,491 shares during the period. Jennison Associates LLC grew its stake in Trinity Industries by 98.8% in the 4th quarter. Jennison Associates LLC now owns 2,127,208 shares of the transportation company’s stock valued at $79,685,000 after purchasing an additional 1,056,986 shares during the period. Finally, Geode Capital Management LLC grew its stake in Trinity Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,260,510 shares of the transportation company’s stock valued at $47,218,000 after purchasing an additional 21,487 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.
TRN has been the subject of a number of recent analyst reports. Cowen upped their price objective on Trinity Industries from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, December 13th. Zacks Investment Research downgraded Trinity Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Susquehanna Bancshares upped their price objective on Trinity Industries from $40.00 to $52.00 and gave the company a “positive” rating in a research note on Tuesday, February 20th. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Seaport Global Securities initiated coverage on Trinity Industries in a research note on Thursday, January 4th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $35.75.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings results on Wednesday, February 21st. The transportation company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Trinity Industries had a return on equity of 5.34% and a net margin of 19.15%. The firm had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. sell-side analysts forecast that Trinity Industries Inc will post 1.33 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 1.57%. Trinity Industries’s dividend payout ratio is presently 37.41%.
Trinity Industries announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, major shareholder Holdings L.P. Valueact acquired 20,539 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average price of $33.00 per share, with a total value of $677,787.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP William A. Mcwhirter sold 20,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the sale, the senior vice president now directly owns 191,339 shares in the company, valued at approximately $7,060,409.10. The disclosure for this sale can be found here. Insiders have bought a total of 976,882 shares of company stock worth $32,124,543 in the last ninety days. Insiders own 2.00% of the company’s stock.
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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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