State of New Jersey Common Pension Fund D acquired a new stake in Trinity Industries Inc (NYSE:TRN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 115,700 shares of the transportation company’s stock, valued at approximately $2,277,000. State of New Jersey Common Pension Fund D owned 0.09% of Trinity Industries as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. LSV Asset Management grew its position in shares of Trinity Industries by 667.1% in the second quarter. LSV Asset Management now owns 3,475,100 shares of the transportation company’s stock valued at $72,108,000 after purchasing an additional 3,022,100 shares during the period. Fiduciary Management Inc. WI grew its position in Trinity Industries by 4.6% during the second quarter. Fiduciary Management Inc. WI now owns 3,154,286 shares of the transportation company’s stock valued at $65,451,000 after acquiring an additional 138,671 shares during the period. Cooperman Leon G grew its position in Trinity Industries by 22.7% during the second quarter. Cooperman Leon G now owns 2,361,092 shares of the transportation company’s stock valued at $48,993,000 after acquiring an additional 437,443 shares during the period. Sterling Capital Management LLC grew its position in Trinity Industries by 35.4% during the second quarter. Sterling Capital Management LLC now owns 2,035,407 shares of the transportation company’s stock valued at $42,235,000 after acquiring an additional 532,314 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in Trinity Industries by 29.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,267,304 shares of the transportation company’s stock valued at $26,297,000 after acquiring an additional 284,942 shares during the period. 91.37% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE TRN opened at $21.59 on Friday. Trinity Industries Inc has a 1-year low of $16.03 and a 1-year high of $26.63. The business has a 50-day moving average of $18.85 and a 200-day moving average of $19.51. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.70 and a quick ratio of 0.68. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.75 and a beta of 2.05.
Trinity Industries (NYSE:TRN) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. Trinity Industries had a return on equity of 6.27% and a net margin of 4.96%. The company had revenue of $813.60 million during the quarter, compared to the consensus estimate of $809.80 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was up 34.1% compared to the same quarter last year. Research analysts expect that Trinity Industries Inc will post 1.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, October 11th. Trinity Industries’s dividend payout ratio (DPR) is 85.00%.
In other Trinity Industries news, Director Brandon B. Boze purchased 600,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $19.84 per share, for a total transaction of $11,904,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brandon B. Boze purchased 400,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $20.46 per share, for a total transaction of $8,184,000.00. The disclosure for this purchase can be found here. Insiders own 18.50% of the company’s stock.
A number of equities research analysts have issued reports on the company. Buckingham Research set a $18.00 price target on Trinity Industries and gave the company a “hold” rating in a research report on Friday, October 25th. Cowen decreased their target price on Trinity Industries from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. ValuEngine raised Trinity Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stephens set a $20.00 target price on Trinity Industries and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Peel Hunt reaffirmed a “hold” rating on shares of Trinity Industries in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.38.
About Trinity Industries
Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.
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