Jennison Associates LLC boosted its position in Trinity Industries, Inc. (NYSE:TRN) by 124.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 928,230 shares of the transportation company’s stock after buying an additional 515,568 shares during the period. Jennison Associates LLC owned about 0.61% of Trinity Industries worth $26,018,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. First Mercantile Trust Co. bought a new stake in Trinity Industries during the first quarter worth approximately $139,000. Invictus RG raised its stake in Trinity Industries by 466.4% in the first quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock worth $170,000 after buying an additional 5,275 shares during the period. Advisory Services Network LLC bought a new stake in Trinity Industries during the first quarter worth approximately $195,000. Fisher Asset Management LLC bought a new stake in Trinity Industries during the second quarter worth approximately $205,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Trinity Industries during the second quarter worth approximately $208,000. Institutional investors and hedge funds own 80.99% of the company’s stock.
Trinity Industries, Inc. (NYSE TRN) opened at 29.02 on Friday. The stock has a 50 day moving average price of $28.05 and a 200-day moving average price of $27.12. Trinity Industries, Inc. has a 52 week low of $20.80 and a 52 week high of $30.13. The firm has a market capitalization of $4.39 billion, a P/E ratio of 17.84 and a beta of 2.18.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Trinity Industries had a net margin of 6.20% and a return on equity of 5.75%. The company had revenue of $905.50 million for the quarter, compared to analyst estimates of $947.40 million. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was down 23.6% on a year-over-year basis. Analysts anticipate that Trinity Industries, Inc. will post $1.25 EPS for the current fiscal year.
A number of equities research analysts have commented on TRN shares. TheStreet upgraded Trinity Industries from a “c” rating to a “b-” rating in a research report on Monday, August 14th. Stifel Nicolaus upgraded Trinity Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $29.00 to $31.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Buckingham Research started coverage on Trinity Industries in a research report on Wednesday, June 21st. They issued a “buy” rating and a $32.00 price target on the stock. BidaskClub upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.89.
In other news, major shareholder Valueact Capital Master Fund, acquired 403,000 shares of Trinity Industries stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $28.48 per share, with a total value of $11,477,440.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings L.P. Valueact acquired 100,000 shares of Trinity Industries stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $27.38 per share, for a total transaction of $2,738,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 1,406,628 shares of company stock worth $39,627,578 over the last three months. 2.00% of the stock is currently owned by corporate insiders.
About Trinity Industries
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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