Zacks Investment Research upgraded shares of Trinity Industries (NYSE:TRN) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “Trinity Industries, Inc., is a diversified industrial company that owns complementary market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction sectors, among others. The company, Trinity Industries, Inc., operates in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. Trinity is engaged in the manufacture, marketing, and leasing of a wide variety of products. Trinity Industries, Inc., is traded on the New York Stock Exchange under the symbol TRN. The company is headquartered is Dallas, Texas. “
Several other brokerages have also issued reports on TRN. Seaport Global Securities assumed coverage on Trinity Industries in a research report on Thursday, January 4th. They set a neutral rating for the company. ValuEngine upgraded Trinity Industries from a hold rating to a buy rating in a research report on Sunday, December 31st. Stifel Nicolaus restated a buy rating and set a $43.00 target price on shares of Trinity Industries in a research report on Friday, December 22nd. Cowen boosted their target price on Trinity Industries from $36.00 to $46.00 and gave the company an outperform rating in a research report on Wednesday, December 13th. Finally, Susquehanna Bancshares boosted their target price on Trinity Industries from $40.00 to $52.00 and gave the company a positive rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $35.75.
Trinity Industries (NYSE:TRN) last announced its earnings results on Wednesday, February 21st. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Trinity Industries had a return on equity of 5.34% and a net margin of 19.15%. The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. equities research analysts forecast that Trinity Industries will post 1.33 EPS for the current fiscal year.
Trinity Industries announced that its board has authorized a stock buyback plan on Tuesday, December 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, April 12th. Trinity Industries’s dividend payout ratio is presently 37.41%.
In other news, SVP William A. Mcwhirter sold 15,606 shares of Trinity Industries stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $33.49, for a total transaction of $522,644.94. Following the completion of the sale, the senior vice president now owns 175,733 shares of the company’s stock, valued at $5,885,298.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William A. Mcwhirter sold 20,000 shares of Trinity Industries stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $36.90, for a total transaction of $738,000.00. Following the sale, the senior vice president now directly owns 191,339 shares of the company’s stock, valued at approximately $7,060,409.10. The disclosure for this sale can be found here. Insiders have bought 976,882 shares of company stock valued at $32,124,543 in the last ninety days. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new stake in shares of Trinity Industries during the fourth quarter valued at approximately $464,000. J. Goldman & Co LP raised its stake in Trinity Industries by 32.5% in the fourth quarter. J. Goldman & Co LP now owns 553,849 shares of the transportation company’s stock worth $20,747,000 after buying an additional 135,765 shares in the last quarter. Sterling Capital Management LLC raised its stake in Trinity Industries by 15.9% in the fourth quarter. Sterling Capital Management LLC now owns 476,931 shares of the transportation company’s stock worth $17,866,000 after buying an additional 65,439 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Trinity Industries in the fourth quarter worth approximately $3,597,000. Finally, Verition Fund Management LLC raised its stake in Trinity Industries by 527.2% in the fourth quarter. Verition Fund Management LLC now owns 53,041 shares of the transportation company’s stock worth $1,987,000 after buying an additional 65,458 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.
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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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