Wells Fargo & Company MN grew its position in Trinity Industries Inc (NYSE:TRN) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,615 shares of the transportation company’s stock after acquiring an additional 7,186 shares during the quarter. Wells Fargo & Company MN owned about 0.26% of Trinity Industries worth $13,910,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRN. Bank of Montreal Can bought a new position in Trinity Industries in the second quarter valued at $2,498,000. Janney Montgomery Scott LLC bought a new position in Trinity Industries in the second quarter valued at $224,000. First Trust Advisors LP grew its position in Trinity Industries by 34.4% in the second quarter. First Trust Advisors LP now owns 1,021,150 shares of the transportation company’s stock valued at $34,985,000 after purchasing an additional 261,306 shares in the last quarter. Victory Capital Management Inc. grew its position in Trinity Industries by 13.3% in the second quarter. Victory Capital Management Inc. now owns 85,008 shares of the transportation company’s stock valued at $2,912,000 after purchasing an additional 9,951 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Trinity Industries by 668.0% in the second quarter. CIBC Private Wealth Group LLC now owns 9,300 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 8,089 shares in the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.
Shares of TRN stock opened at $22.07 on Friday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 3.43 and a beta of 2.29. The company has a quick ratio of 1.38, a current ratio of 2.50 and a debt-to-equity ratio of 0.71. Trinity Industries Inc has a one year low of $20.65 and a one year high of $39.35.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $930.90 million during the quarter, compared to analyst estimates of $969.60 million. Trinity Industries had a net margin of 18.57% and a return on equity of 5.38%. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, equities research analysts predict that Trinity Industries Inc will post 0.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Tuesday, January 15th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, January 14th. Trinity Industries’s dividend payout ratio is currently 34.21%.
TRN has been the subject of a number of analyst reports. Cowen decreased their target price on shares of Trinity Industries from $47.00 to $29.00 and set an “outperform” rating for the company in a research report on Monday, November 12th. UBS Group raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, October 30th. Wells Fargo & Co decreased their target price on shares of Trinity Industries from $53.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. They noted that the move was a valuation call. Seaport Global Securities upgraded shares of Trinity Industries from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Monday, November 26th. Finally, Vertical Group cut shares of Trinity Industries from a “hold” rating to a “sell” rating and set a $12.00 price target for the company. in a research note on Tuesday. Four analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.20.
In related news, Director Brandon B. Boze bought 8,788 shares of the business’s stock in a transaction dated Friday, November 23rd. The stock was bought at an average price of $22.00 per share, for a total transaction of $193,336.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brandon B. Boze bought 143,576 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were bought at an average price of $21.99 per share, with a total value of $3,157,236.24. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.
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About Trinity Industries
Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.
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