Trinity Industries, Inc. (NYSE:TRN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in shares of Trinity Industries, Inc. (NYSE:TRN) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,569,383 shares of the transportation company’s stock after selling 1,803 shares during the quarter. Jennison Associates LLC’s holdings in Trinity Industries were worth $124,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRN. Matrix Trust Co acquired a new position in Trinity Industries in the 3rd quarter valued at $25,000. Innealta Capital LLC acquired a new stake in shares of Trinity Industries in the second quarter valued at about $31,000. GAMMA Investing LLC boosted its position in Trinity Industries by 85.6% during the third quarter. GAMMA Investing LLC now owns 1,017 shares of the transportation company’s stock worth $35,000 after acquiring an additional 469 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Trinity Industries during the 2nd quarter valued at about $54,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Trinity Industries in the 2nd quarter valued at about $175,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRN. StockNews.com cut Trinity Industries from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Susquehanna cut Trinity Industries from a “positive” rating to a “neutral” rating and upped their target price for the company from $34.00 to $35.00 in a report on Monday, October 21st. Finally, The Goldman Sachs Group began coverage on shares of Trinity Industries in a research report on Monday. They set a “neutral” rating and a $39.00 price target on the stock.

Trinity Industries Trading Down 2.5 %

Shares of Trinity Industries stock opened at $37.03 on Thursday. Trinity Industries, Inc. has a fifty-two week low of $23.40 and a fifty-two week high of $38.69. The stock has a 50 day moving average of $34.91 and a 200 day moving average of $32.46. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 18.06 and a beta of 1.39. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.08 and a current ratio of 2.00.

Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Trinity Industries had a net margin of 5.31% and a return on equity of 14.57%. The firm had revenue of $798.80 million for the quarter, compared to analyst estimates of $696.00 million. During the same period in the prior year, the business posted $0.26 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Trinity Industries, Inc. will post 1.75 earnings per share for the current year.

Trinity Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.02%. Trinity Industries’s dividend payout ratio is presently 54.63%.

About Trinity Industries

Trinity Industries, Inc provides rail transportation products and services under the TrinityRail name in North America. It operates in two segments, Railcar Leasing and Management Services Group, and Rail Products Group. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investors; and provides fleet maintenance and management services.