Textainer Group Holdings Limited (NYSE:TGH) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Textainer Group Holdings Limited (NYSE:TGH) by 40.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 118,348 shares of the transportation company’s stock after selling 78,832 shares during the period. Bank of New York Mellon Corp owned approximately 0.21% of Textainer Group Holdings Limited worth $1,716,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Textainer Group Holdings Limited by 20.2% during the 1st quarter. Wellington Management Group LLP now owns 1,310,131 shares of the transportation company’s stock valued at $20,045,000 after purchasing an additional 220,193 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Textainer Group Holdings Limited by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 760,137 shares of the transportation company’s stock valued at $11,629,000 after purchasing an additional 11,597 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Textainer Group Holdings Limited by 18.9% during the 1st quarter. Ameriprise Financial Inc. now owns 339,749 shares of the transportation company’s stock valued at $5,198,000 after purchasing an additional 54,102 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Textainer Group Holdings Limited by 38.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 277,112 shares of the transportation company’s stock valued at $4,019,000 after purchasing an additional 77,533 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Textainer Group Holdings Limited by 13.9% during the 1st quarter. Geode Capital Management LLC now owns 208,109 shares of the transportation company’s stock valued at $3,184,000 after purchasing an additional 25,448 shares during the last quarter. Institutional investors and hedge funds own 22.39% of the company’s stock.

Several research firms have commented on TGH. Wells Fargo & Company lifted their target price on shares of Textainer Group Holdings Limited from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Zacks Investment Research raised shares of Textainer Group Holdings Limited from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, October 20th. Cowen and Company reaffirmed a “buy” rating and issued a $21.00 price target on shares of Textainer Group Holdings Limited in a report on Tuesday, September 19th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $19.00) on shares of Textainer Group Holdings Limited in a report on Tuesday, September 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $16.00 price target on shares of Textainer Group Holdings Limited in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $19.40.

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Textainer Group Holdings Limited (NYSE TGH) opened at 18.55 on Friday. The stock’s market capitalization is $1.05 billion. The company has a 50-day moving average of $17.48 and a 200-day moving average of $15.00. Textainer Group Holdings Limited has a 1-year low of $6.90 and a 1-year high of $20.16.

Textainer Group Holdings Limited (NYSE:TGH) last released its quarterly earnings results on Tuesday, August 8th. The transportation company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). Textainer Group Holdings Limited had a negative return on equity of 6.45% and a negative net margin of 13.12%. The business had revenue of $119.25 million during the quarter, compared to the consensus estimate of $120.62 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. Analysts anticipate that Textainer Group Holdings Limited will post $0.13 earnings per share for the current fiscal year.

Textainer Group Holdings Limited Company Profile

Textainer Group Holdings Limited is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.

Institutional Ownership by Quarter for Textainer Group Holdings Limited (NYSE:TGH)

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