HighTower Advisors LLC cut its holdings in Trinity Industries, Inc. (NYSE:TRN) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,508 shares of the transportation company’s stock after selling 5,121 shares during the quarter. HighTower Advisors LLC’s holdings in Trinity Industries were worth $912,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. CENTRAL TRUST Co grew its position in shares of Trinity Industries by 1.3% in the 2nd quarter. CENTRAL TRUST Co now owns 12,721 shares of the transportation company’s stock valued at $357,000 after purchasing an additional 161 shares during the period. Stephens Inc. AR grew its position in shares of Trinity Industries by 3.0% in the 2nd quarter. Stephens Inc. AR now owns 9,683 shares of the transportation company’s stock valued at $271,000 after purchasing an additional 279 shares during the period. American Asset Management Inc. grew its position in shares of Trinity Industries by 3.4% in the 2nd quarter. American Asset Management Inc. now owns 9,397 shares of the transportation company’s stock valued at $263,000 after purchasing an additional 310 shares during the period. Alpha Windward LLC grew its position in shares of Trinity Industries by 2.2% in the 2nd quarter. Alpha Windward LLC now owns 16,980 shares of the transportation company’s stock valued at $476,000 after purchasing an additional 360 shares during the period. Finally, Utah Retirement Systems grew its position in shares of Trinity Industries by 1.5% in the 2nd quarter. Utah Retirement Systems now owns 27,528 shares of the transportation company’s stock valued at $771,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.
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In related 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 shares were bought at an average price of $27.38 per share, with a total value of $2,738,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Valueact Capital Master Fund, bought 403,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $28.48 per share, for a total transaction of $11,477,440.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,709,624 shares of company stock valued at $48,298,143. Corporate insiders own 2.00% of the company’s stock.
Several brokerages recently issued reports on TRN. Axiom Securities reiterated a “sell” rating on shares of Trinity Industries in a research report on Thursday, July 13th. Zacks Investment Research raised Trinity Industries from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Thursday, August 17th. Cowen and Company upped their price target on Trinity Industries from $31.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. TheStreet raised Trinity Industries from a “c” rating to a “b-” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $42.00 price target (up previously from $31.00) on shares of Trinity Industries in a research report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $34.25.
Trinity Industries, Inc. (NYSE:TRN) opened at 34.01 on Friday. The firm has a market cap of $5.15 billion, a P/E ratio of 20.90 and a beta of 2.19. Trinity Industries, Inc. has a 52-week low of $20.80 and a 52-week high of $35.97. The firm’s 50-day moving average price is $31.09 and its 200-day moving average price is $28.13.
Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $905.50 million during the quarter, compared to the consensus estimate of $947.40 million. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The company’s quarterly revenue was down 23.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. Equities research analysts expect that Trinity Industries, Inc. will post $1.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.53%. Trinity Industries’s dividend payout ratio is 32.10%.
Trinity Industries Company 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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