Trinity Industries Inc (TRN) Shares Sold by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC cut its holdings in Trinity Industries Inc (NYSE:TRN) by 31.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,341 shares of the transportation company’s stock after selling 4,696 shares during the period. Janney Montgomery Scott LLC’s holdings in Trinity Industries were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Pacad Investment Ltd. raised its position in shares of Trinity Industries by 36.5% in the 2nd quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock worth $199,000 after acquiring an additional 1,900 shares in the last quarter. Dearborn Partners LLC bought a new position in shares of Trinity Industries in the 2nd quarter worth about $209,000. Sippican Capital Advisors bought a new position in shares of Trinity Industries in the 3rd quarter worth about $211,000. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Trinity Industries in the 2nd quarter worth about $230,000. Finally, Commerce Bank bought a new stake in Trinity Industries in the 3rd quarter valued at about $255,000. 82.16% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP William A. Mcwhirter sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the transaction, the senior vice president now owns 191,339 shares in the company, valued at approximately $7,060,409.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Valueact Capital Master Fund, bought 13,687 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $31.98 per share, for a total transaction of $437,710.26. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,722,237 shares of company stock valued at $55,164,869 over the last three months. Corporate insiders own 2.00% of the company’s stock.
A number of brokerages recently commented on TRN. Cowen boosted their target price on Trinity Industries from $31.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, October 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $42.00 target price (up from $31.00) on shares of Trinity Industries in a research report on Sunday, October 1st. Zacks Investment Research lowered Trinity Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 23rd. Citigroup raised Trinity Industries from a “neutral” rating to a “buy” rating and decreased their target price for the company from $45.00 to $36.00 in a research report on Friday, September 29th. Finally, Buckingham Research boosted their target price on Trinity Industries from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Trinity Industries presently has a consensus rating of “Buy” and a consensus price target of $35.25.
Shares of Trinity Industries Inc (NYSE TRN) opened at $37.55 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.62 and a current ratio of 3.70. The company has a market capitalization of $5,710.00, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.50 and a beta of 2.26. Trinity Industries Inc has a twelve month low of $25.01 and a twelve month high of $38.25.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The firm had revenue of $973.60 million during the quarter, compared to analyst estimates of $951.60 million. Trinity Industries had a return on equity of 5.32% and a net margin of 5.97%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. sell-side analysts predict that Trinity Industries Inc will post 1.49 earnings per share for the current fiscal year.
Trinity Industries declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, January 11th. Trinity Industries’s dividend payout ratio is currently 34.67%.
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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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