Eaton Vance Management lessened its stake in Trinity Industries, Inc. (NYSE:TRN) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,576 shares of the transportation company’s stock after selling 8,072 shares during the quarter. Eaton Vance Management owned approximately 0.20% of Trinity Industries worth $8,425,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. First Mercantile Trust Co. lifted its holdings in shares of Trinity Industries by 10.9% in the second quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock valued at $163,000 after purchasing an additional 570 shares in the last quarter. Invictus RG lifted its holdings in shares of Trinity Industries by 466.4% in the first quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock valued at $170,000 after purchasing an additional 5,275 shares in the last quarter. Pacad Investment Ltd. lifted its holdings in shares of Trinity Industries by 36.5% in the second quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock valued at $199,000 after purchasing an additional 1,900 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of Trinity Industries in the second quarter valued at approximately $205,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Trinity Industries in the second quarter valued at approximately $208,000. Institutional investors own 80.92% of the company’s stock.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company restated a “buy” rating and issued a $31.00 target price on shares of Trinity Industries in a report on Monday, August 28th. Zacks Investment Research lowered Trinity Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub upgraded Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, TheStreet upgraded Trinity Industries from a “c” rating to a “b-” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.89.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, acquired 60,819 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average cost of $28.39 per share, with a total value of $1,726,651.41. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Valueact acquired 167,395 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $27.51 per share, for a total transaction of $4,605,036.45. The disclosure for this purchase can be found here. Insiders purchased a total of 1,709,624 shares of company stock worth $48,298,143 over the last ninety days. 2.00% of the stock is currently owned by insiders.
Shares of Trinity Industries, Inc. (NYSE:TRN) opened at 29.67 on Wednesday. The company’s 50-day moving average price is $28.41 and its 200-day moving average price is $27.18. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 18.24 and a beta of 2.18. Trinity Industries, Inc. has a one year low of $20.80 and a one year high of $30.13.
Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $947.40 million. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The firm’s quarterly revenue was down 23.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities research analysts predict that Trinity Industries, Inc. will post $1.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.52 annualized dividend and a yield of 1.75%. Trinity Industries’s dividend payout ratio (DPR) is presently 32.10%.
Trinity Industries 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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