Cornerstone Capital Management Holdings LLC. Acquires 43,618 Shares of Trinity Industries Inc (TRN)
Cornerstone Capital Management Holdings LLC. lifted its holdings in Trinity Industries Inc (NYSE:TRN) by 5.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 794,670 shares of the transportation company’s stock after purchasing an additional 43,618 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Trinity Industries were worth $29,767,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of TRN. Nationwide Fund Advisors lifted its position in shares of Trinity Industries by 5.4% in the 3rd quarter. Nationwide Fund Advisors now owns 296,629 shares of the transportation company’s stock worth $9,462,000 after buying an additional 15,286 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Trinity Industries in the 3rd quarter worth about $691,000. Canada Pension Plan Investment Board lifted its position in shares of Trinity Industries by 37.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 113,200 shares of the transportation company’s stock worth $3,611,000 after buying an additional 30,600 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Trinity Industries by 15.3% in the 3rd quarter. Jennison Associates LLC now owns 1,070,222 shares of the transportation company’s stock worth $34,140,000 after buying an additional 141,992 shares during the last quarter. Finally, FDx Advisors Inc. bought a new position in shares of Trinity Industries in the 3rd quarter worth about $322,000. Institutional investors own 87.44% of the company’s stock.
A number of research analysts have recently issued reports on TRN shares. Zacks Investment Research upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, January 2nd. Cowen raised their price target on shares of Trinity Industries from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 13th. Seaport Global Securities started coverage on shares of Trinity Industries in a research report on Thursday, January 4th. They issued a “neutral” rating on the stock. Wells Fargo & Co upgraded shares of Trinity Industries from a “market perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research report on Friday, February 16th. Finally, ValuEngine upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.75.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, February 21st. The transportation company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $1.05 billion. Trinity Industries had a net margin of 19.15% and a return on equity of 5.34%. Trinity Industries’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.44 EPS. equities analysts predict that Trinity Industries Inc will post 1.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.52 annualized dividend and a yield of 1.57%. Trinity Industries’s payout ratio is 11.61%.
Trinity Industries declared that its board has approved a stock buyback plan on Tuesday, December 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, major shareholder Holdings L.P. Valueact bought 300,000 shares of the stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of $32.81 per share, with a total value of $9,843,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William A. Mcwhirter sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $36.90, for a total transaction of $738,000.00. Following the transaction, the senior vice president now directly owns 191,339 shares in the company, valued at approximately $7,060,409.10. The disclosure for this sale can be found here. In the last three months, insiders have acquired 976,882 shares of company stock worth $32,124,543. 2.00% of the stock is owned by corporate insiders.
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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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