Sei Investments Co. grew its holdings in Trinity Industries, Inc. (NYSE:TRN) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,383 shares of the transportation company’s stock after acquiring an additional 1,557 shares during the quarter. Sei Investments Co. owned 0.13% of Trinity Industries worth $3,509,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TRN. Janney Montgomery Scott LLC lifted its position in Trinity Industries by 79.8% during the first quarter. Janney Montgomery Scott LLC now owns 14,295 shares of the transportation company’s stock worth $407,000 after purchasing an additional 6,344 shares during the period. D.A. Davidson & CO. raised its stake in Trinity Industries by 3.6% during the first quarter. D.A. Davidson & CO. now owns 17,555 shares of the transportation company’s stock worth $500,000 after acquiring an additional 605 shares in the last quarter. Cibc World Markets Corp acquired a new position in Trinity Industries during the first quarter worth about $251,000. Cambridge Investment Research Advisors Inc. acquired a new position in Trinity Industries during the first quarter worth about $200,000. Finally, BlackRock Inc. raised its stake in Trinity Industries by 3.3% during the first quarter. BlackRock Inc. now owns 7,115,726 shares of the transportation company’s stock worth $202,729,000 after acquiring an additional 226,757 shares in the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on TRN. Wells Fargo & Company boosted their target price on Trinity Industries from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 23rd. Susquehanna raised Trinity Industries from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $32.00 to $36.00 in a research note on Monday, July 26th. Finally, Susquehanna Bancshares raised Trinity Industries from a “neutral” rating to a “positive” rating and set a $26.29 target price for the company in a research note on Monday, July 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $30.66.
Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Thursday, July 22nd. The transportation company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. Trinity Industries had a positive return on equity of 2.54% and a negative net margin of 5.23%. The company had revenue of $371.50 million during the quarter, compared to the consensus estimate of $449.95 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The firm’s revenue was down 27.0% compared to the same quarter last year. Equities analysts anticipate that Trinity Industries, Inc. will post 0.64 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, October 14th. This is an increase from Trinity Industries’s previous quarterly dividend of $0.01. Trinity Industries’s dividend payout ratio is currently 227.03%.
Trinity Industries announced that its board has authorized a share repurchase plan on Wednesday, September 8th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
About Trinity Industries
Trinity Industries, Inc engages in the provision of rail transportation products and services in North America. It operates through the following segments: Railcar Leasing and Management Services Group, Rail Products Group and All Other. The Railcar Leasing and Management Services Group segment provides railcar industry services.
Recommended Story: Dual Listing
Receive News & Ratings for Trinity Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinity Industries and related companies with MarketBeat.com's FREE daily email newsletter.