Westpac Banking Corp Has $5.36 Million Stake in Trinity Industries Inc (TRN)
Westpac Banking Corp decreased its stake in shares of Trinity Industries Inc (NYSE:TRN) by 26.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 143,100 shares of the transportation company’s stock after selling 51,500 shares during the period. Westpac Banking Corp’s holdings in Trinity Industries were worth $5,361,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in TRN. Janus Henderson Group PLC bought a new stake in shares of Trinity Industries during the 2nd quarter worth about $108,733,000. ValueAct Holdings L.P. boosted its holdings in shares of Trinity Industries by 10.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock worth $550,438,000 after buying an additional 1,672,510 shares during the period. NWQ Investment Management Company LLC bought a new stake in shares of Trinity Industries during the 3rd quarter worth about $12,484,000. Sterling Capital Management LLC boosted its holdings in shares of Trinity Industries by 1,204.5% during the 3rd quarter. Sterling Capital Management LLC now owns 411,492 shares of the transportation company’s stock worth $13,127,000 after buying an additional 379,948 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Trinity Industries by 160.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 337,546 shares of the transportation company’s stock worth $10,768,000 after buying an additional 207,805 shares during the period. 82.18% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on TRN shares. Cowen lifted their price objective on shares of Trinity Industries from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 13th. Susquehanna Bancshares upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. ValuEngine cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. UBS Group upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. Finally, Seaport Global Securities started coverage on shares of Trinity Industries in a research note on Thursday, January 4th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Trinity Industries presently has a consensus rating of “Buy” and an average price target of $36.25.
Trinity Industries (NYSE:TRN) last issued its earnings results on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. The company had revenue of $973.60 million during the quarter, compared to analysts’ expectations of $951.60 million. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. equities analysts expect that Trinity Industries Inc will post 1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 11th. Trinity Industries’s payout ratio is presently 34.67%.
Trinity Industries declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, major shareholder Valueact Capital Master Fund, bought 832,600 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was bought at an average cost of $31.68 per share, for a total transaction of $26,376,768.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Valueact bought 300,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was purchased at an average price of $31.45 per share, with a total value of $9,435,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 1,722,237 shares of company stock valued at $55,164,869 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
Trinity Industries Profile
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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