Commonwealth Bank of Australia raised its stake in shares of Trinity Industries Inc (NYSE:TRN) by 11.3% during the first quarter, HoldingsChannel.com reports. The firm owned 65,105 shares of the transportation company’s stock after buying an additional 6,600 shares during the quarter. Commonwealth Bank of Australia’s holdings in Trinity Industries were worth $1,411,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Advisor Group Inc. grew its stake in Trinity Industries by 7.4% in the first quarter. Advisor Group Inc. now owns 28,978 shares of the transportation company’s stock worth $629,000 after purchasing an additional 1,999 shares in the last quarter. Royce & Associates LP boosted its position in Trinity Industries by 10.1% during the 1st quarter. Royce & Associates LP now owns 818,815 shares of the transportation company’s stock valued at $17,793,000 after acquiring an additional 75,267 shares in the last quarter. ARP Americas LP bought a new stake in Trinity Industries during the 1st quarter valued at $220,000. Catalyst Capital Advisors LLC bought a new stake in Trinity Industries during the 1st quarter valued at $761,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Trinity Industries by 44.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,378 shares of the transportation company’s stock valued at $399,000 after acquiring an additional 5,634 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.
In other news, insider Brian D. Madison sold 2,157 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.90, for a total transaction of $45,081.30. Following the completion of the sale, the insider now owns 58,345 shares in the company, valued at approximately $1,219,410.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 18.50% of the company’s stock.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Trinity Industries had a return on equity of 5.63% and a net margin of 4.66%. The firm had revenue of $604.80 million during the quarter, compared to analyst estimates of $660.72 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts forecast that Trinity Industries Inc will post 1.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, July 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.36%. Trinity Industries’s dividend payout ratio is presently 85.00%.
TRN has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating and set a $30.00 target price on shares of Trinity Industries in a research report on Wednesday, February 20th. Zacks Investment Research raised Trinity Industries from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, February 26th. Mizuho reaffirmed a “buy” rating and set a $32.00 target price on shares of Trinity Industries in a research report on Tuesday, February 26th. Buckingham Research cut Trinity Industries from a “buy” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $26.00 in a research report on Friday, March 22nd. Finally, Stephens set a $24.00 target price on Trinity Industries and gave the company a “hold” rating in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.44.
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About Trinity Industries
Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.
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