First Eagle Investment Management LLC Maintains Stake in Trinity Industries Inc. (TRN)
First Eagle Investment Management LLC continued to hold its stake in Trinity Industries Inc. (NYSE:TRN) during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 149,200 shares of the company’s stock at the end of the third quarter. First Eagle Investment Management LLC’s holdings in Trinity Industries were worth $3,608,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TRN. LS Investment Advisors LLC raised its stake in Trinity Industries by 71.6% in the second quarter. LS Investment Advisors LLC now owns 9,285 shares of the company’s stock worth $172,000 after buying an additional 3,875 shares during the last quarter. Nordea Investment Management AB raised its stake in Trinity Industries by 288.2% in the second quarter. Nordea Investment Management AB now owns 36,310 shares of the company’s stock worth $674,000 after buying an additional 26,956 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its stake in Trinity Industries by 2.1% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 129,647 shares of the company’s stock worth $2,407,000 after buying an additional 2,688 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Trinity Industries by 23.2% in the second quarter. Nisa Investment Advisors LLC now owns 43,540 shares of the company’s stock worth $809,000 after buying an additional 8,200 shares during the last quarter. Finally, Denali Advisors LLC raised its stake in Trinity Industries by 115.3% in the second quarter. Denali Advisors LLC now owns 271,000 shares of the company’s stock worth $5,032,000 after buying an additional 145,100 shares during the last quarter. 76.89% of the stock is owned by institutional investors.
Trinity Industries Inc. (NYSE:TRN) traded up 3.08% on Wednesday, hitting $27.79. 1,905,318 shares of the stock were exchanged. Trinity Industries Inc. has a 1-year low of $14.94 and a 1-year high of $28.14. The stock has a market cap of $4.23 billion, a PE ratio of 8.93 and a beta of 2.10. The company’s 50 day moving average is $24.11 and its 200 day moving average is $22.12.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Trinity Industries had a net margin of 9.46% and a return on equity of 11.37%. The business earned $1.11 billion during the quarter. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Trinity Industries’s quarterly revenue was down 27.9% compared to the same quarter last year. On average, equities research analysts expect that Trinity Industries Inc. will post $2.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 14th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Wednesday, October 12th. Trinity Industries’s payout ratio is 14.15%.
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A number of equities research analysts recently weighed in on the stock. Axiom Securities reaffirmed a “sell” rating on shares of Trinity Industries in a report on Saturday. Stifel Nicolaus raised their price objective on shares of Trinity Industries from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday. KeyCorp reissued a “buy” rating and set a $28.00 price objective on shares of Trinity Industries in a report on Monday, October 3rd. initiated coverage on shares of Trinity Industries in a report on Friday, September 30th. They set an “underperform” rating and a $26.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Trinity Industries from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Trinity Industries currently has an average rating of “Hold” and an average target price of $21.22.
In other news, major shareholder Valueact Capital Master Fund, acquired 461,605 shares of Trinity Industries stock in a transaction dated Friday, November 4th. The stock was acquired at an average cost of $21.17 per share, for a total transaction of $9,772,177.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.
About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical 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; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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