Macquarie Group Ltd. reduced its position in shares of Trinity Industries Inc. (NYSE:TRN) by 95.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,400 shares of the company’s stock after selling 1,050,000 shares during the period. Macquarie Group Ltd.’s holdings in Trinity Industries were worth $936,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. ValueAct Holdings L.P. bought a new position in shares of Trinity Industries during the second quarter worth about $111,420,000. BlackRock Fund Advisors increased its position in shares of Trinity Industries by 5.2% in the second quarter. BlackRock Fund Advisors now owns 5,239,663 shares of the company’s stock worth $97,301,000 after buying an additional 256,741 shares in the last quarter. D.C. Capital Advisors Ltd increased its position in shares of Trinity Industries by 1,900.0% in the second quarter. D.C. Capital Advisors Ltd now owns 5,000,000 shares of the company’s stock worth $9,285,000 after buying an additional 4,750,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Trinity Industries by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,644,976 shares of the company’s stock worth $85,050,000 after buying an additional 30,402 shares in the last quarter. Finally, State Street Corp increased its position in shares of Trinity Industries by 1.7% in the first quarter. State Street Corp now owns 4,002,036 shares of the company’s stock worth $73,280,000 after buying an additional 68,123 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.
Shares of Trinity Industries Inc. (NYSE:TRN) opened at 24.53 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of 6.34 and a beta of 2.24. Trinity Industries Inc. has a 1-year low of $14.94 and a 1-year high of $30.38. The firm’s 50-day moving average price is $23.98 and its 200 day moving average price is $20.21.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Trinity Industries had a return on equity of 14.62% and a net margin of 10.91%. During the same period last year, the firm earned $1.33 earnings per share. On average, equities analysts expect that Trinity Industries Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Wednesday, October 12th. Trinity Industries’s payout ratio is currently 11.37%.
TRN has been the topic of a number of analyst reports. Zacks Investment Research upgraded Trinity Industries from a “strong sell” rating to a “hold” rating in a report on Monday, May 30th. Susquehanna downgraded Trinity Industries from a “positive” rating to a “neutral” rating and lifted their price target for the company from $23.00 to $24.00 in a report on Monday, July 25th. Wells Fargo & Co. reiterated a “hold” rating on shares of Trinity Industries in a report on Wednesday, June 22nd. Longbow Research downgraded Trinity Industries from a “buy” rating to a “neutral” rating in a research note on Monday, June 20th. Finally, Cowen and Company boosted their target price on Trinity Industries from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of €19.29 ($21.43).
About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical 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; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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