ValueAct Holdings L.P. increased its stake in shares of Trinity Industries Inc (NYSE:TRN) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,607,352 shares of the transportation company’s stock after acquiring an additional 1,352,237 shares during the quarter. Trinity Industries makes up about 7.1% of ValueAct Holdings L.P.’s portfolio, making the stock its 8th largest position. ValueAct Holdings L.P. owned approximately 12.26% of Trinity Industries worth $697,031,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. bought a new position in Trinity Industries during the fourth quarter worth $137,000. Cigna Investments Inc. New bought a new position in Trinity Industries during the fourth quarter worth $202,000. OLD National Bancorp IN acquired a new position in Trinity Industries during the fourth quarter worth $204,000. Wellington Shields Capital Management LLC acquired a new position in Trinity Industries during the fourth quarter worth $210,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Trinity Industries during the fourth quarter worth $215,000. 87.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Holdings L.P. Valueact acquired 350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $32.85 per share, for a total transaction of $11,497,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William A. Mcwhirter sold 15,606 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $33.49, for a total transaction of $522,644.94. Following the sale, the senior vice president now owns 175,733 shares of the company’s stock, valued at approximately $5,885,298.17. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,624,387 shares of company stock valued at $86,077,631. 2.00% of the stock is currently owned by corporate insiders.
Shares of TRN stock opened at $31.65 on Friday. The stock has a market capitalization of $4,873.08, a PE ratio of 20.82, a PEG ratio of 2.46 and a beta of 2.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.47 and a quick ratio of 2.43. Trinity Industries Inc has a one year low of $25.05 and a one year high of $38.25.
Trinity Industries (NYSE:TRN) last announced its earnings results on Wednesday, February 21st. The transportation company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $906.00 million during the quarter, compared to the consensus estimate of $1.05 billion. Trinity Industries had a net margin of 19.15% and a return on equity of 5.34%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. equities research analysts anticipate that Trinity Industries Inc will post 1.32 earnings per share for the current fiscal year.
Trinity Industries announced that its board has initiated a share repurchase program on Tuesday, December 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a $0.13 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.64%. Trinity Industries’s dividend payout ratio is currently 34.21%.
Several research analysts have weighed in on the stock. Stifel Nicolaus set a $40.00 price objective on shares of Trinity Industries and gave the stock a “buy” rating in a report on Friday, February 9th. Vertical Group assumed coverage on shares of Trinity Industries in a report on Tuesday, March 6th. They set a “sell” rating and a $20.00 price objective on the stock. Vertical Research assumed coverage on shares of Trinity Industries in a report on Tuesday, March 6th. They set a “sell” rating and a $20.00 price objective on the stock. Wells Fargo upgraded shares of Trinity Industries from a “market perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Saturday, February 10th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $35.75.
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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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