Jennison Associates LLC Acquires 988,636 Shares of Trinity Industries Inc (NYSE:TRN)

Jennison Associates LLC lifted its stake in shares of Trinity Industries Inc (NYSE:TRN) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,239,513 shares of the transportation company’s stock after purchasing an additional 988,636 shares during the quarter. Jennison Associates LLC owned about 2.50% of Trinity Industries worth $70,395,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. P Schoenfeld Asset Management LP raised its stake in shares of Trinity Industries by 1,669.8% in the 4th quarter. P Schoenfeld Asset Management LP now owns 1,859,495 shares of the transportation company’s stock worth $38,287,000 after buying an additional 1,754,427 shares in the last quarter. Norges Bank purchased a new position in shares of Trinity Industries during the fourth quarter valued at $29,267,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Trinity Industries by 1,930.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,200,026 shares of the transportation company’s stock valued at $58,000 after buying an additional 1,140,911 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Trinity Industries during the fourth quarter valued at $19,404,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Trinity Industries by 29.5% during the first quarter. Janus Henderson Group PLC now owns 3,326,034 shares of the transportation company’s stock valued at $72,275,000 after buying an additional 756,977 shares in the last quarter. Hedge funds and other institutional investors own 86.93% of the company’s stock.

In other news, insider Brian D. Madison sold 2,157 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $20.90, for a total value of $45,081.30. Following the sale, the insider now directly owns 58,345 shares in the company, valued at approximately $1,219,410.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 18.50% of the company’s stock.

TRN has been the topic of a number of recent research reports. Stephens set a $24.00 target price on Trinity Industries and gave the company a “hold” rating in a research note on Thursday, March 28th. Zacks Investment Research cut Trinity Industries from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research report on Tuesday, June 4th. Stifel Nicolaus set a $33.00 price target on Trinity Industries and gave the stock a “buy” rating in a research report on Friday, April 26th. TheStreet cut Trinity Industries from a “b” rating to a “c” rating in a research report on Thursday, April 25th. Finally, Buckingham Research cut Trinity Industries from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $26.00 in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.44.

Trinity Industries stock traded up $0.51 during trading on Friday, reaching $20.75. The company had a trading volume of 3,217,495 shares, compared to its average volume of 1,539,122. The company has a 50-day moving average of $20.29. Trinity Industries Inc has a 1-year low of $18.99 and a 1-year high of $39.35. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 1.49 and a beta of 2.00. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.02 and a quick ratio of 0.86.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Trinity Industries had a return on equity of 5.63% and a net margin of 4.66%. The business had revenue of $604.80 million for the quarter, compared to analyst estimates of $660.72 million. During the same quarter last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, analysts expect that Trinity Industries Inc will post 1.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a $0.17 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.28%. Trinity Industries’s dividend payout ratio is currently 85.00%.

Trinity Industries Profile

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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Institutional Ownership by Quarter for Trinity Industries (NYSE:TRN)

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