Barings LLC boosted its holdings in Trinity Industries, Inc. (NYSE:TRN) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,600 shares of the transportation company’s stock after purchasing an additional 2,800 shares during the quarter. Barings LLC’s holdings in Trinity Industries were worth $370,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in TRN. Janus Henderson Group PLC acquired a new position in Trinity Industries in the second quarter worth $108,733,000. Jennison Associates LLC lifted its stake in Trinity Industries by 124.9% in the second quarter. Jennison Associates LLC now owns 928,230 shares of the transportation company’s stock valued at $26,018,000 after buying an additional 515,568 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Trinity Industries by 160.2% in the third quarter. BNP Paribas Arbitrage SA now owns 337,546 shares of the transportation company’s stock valued at $10,768,000 after buying an additional 207,805 shares during the last quarter. Public Sector Pension investment Board bought a new stake in Trinity Industries in the second quarter valued at $5,606,000. Finally, Tudor Investment Corp ET AL bought a new stake in Trinity Industries in the second quarter valued at $5,606,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Valueact Capital Master Fund, acquired 13,687 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average cost of $31.98 per share, for a total transaction of $437,710.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings L.P. Valueact acquired 300,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were bought at an average price of $31.45 per share, for a total transaction of $9,435,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,776,292 shares of company stock worth $56,703,274. Company insiders own 2.00% of the company’s stock.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The business had revenue of $973.60 million for the quarter, compared to analysts’ expectations of $951.60 million. During the same period in the previous year, the business earned $0.55 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. analysts expect that Trinity Industries, Inc. will post 1.49 EPS for the current year.
A number of equities research analysts have issued reports on TRN shares. UBS upgraded Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Trinity Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Cowen reiterated a “buy” rating and issued a $31.00 target price on shares of Trinity Industries in a research note on Sunday, October 1st. Finally, Susquehanna Bancshares upgraded Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $34.13.
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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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