Credit Suisse AG Raises Stake in Trinity Industries, Inc. (NYSE:TRN)

Credit Suisse AG lifted its position in Trinity Industries, Inc. (NYSE:TRN – Get Rating) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,006 shares of the transportation company’s stock after purchasing an additional 3,860 shares during the period. Credit Suisse AG owned about 0.08% of Trinity Industries worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund raised its position in shares of Trinity Industries by 0.9% during the third quarter. New York State Common Retirement Fund now owns 60,576 shares of the transportation company’s stock valued at $1,293,000 after buying an additional 558 shares during the last quarter. Keybank National Association OH bought a new stake in Trinity Industries in the 2nd quarter valued at $576,000. KBC Group NV purchased a new stake in Trinity Industries in the 3rd quarter worth $119,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Trinity Industries by 13.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,615 shares of the transportation company’s stock valued at $227,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in shares of Trinity Industries by 44.1% during the second quarter. Ontario Teachers Pension Plan Board now owns 80,520 shares of the transportation company’s stock valued at $1,950,000 after purchasing an additional 24,646 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TRN shares. TheStreet upgraded Trinity Industries from a “c+” rating to a “b” rating in a research report on Friday, November 18th. Susquehanna decreased their price objective on Trinity Industries from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday. Stephens cut their target price on shares of Trinity Industries from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. Finally, Wells Fargo & Company reduced their price target on shares of Trinity Industries from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Trinity Industries has an average rating of “Hold” and a consensus target price of $28.00.

Trinity Industries Price Performance

NYSE:TRN opened at $26.29 on Thursday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 36.51 and a beta of 1.40. The business has a 50 day simple moving average of $27.85 and a 200-day simple moving average of $27.05. Trinity Industries, Inc. has a 1 year low of $20.94 and a 1 year high of $35.35.

Trinity Industries (NYSE:TRN – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $591.20 million for the quarter, compared to analyst estimates of $786.03 million. Trinity Industries had a return on equity of 6.26% and a net margin of 3.04%. Trinity Industries’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, analysts expect that Trinity Industries, Inc. will post 1.68 earnings per share for the current fiscal year.

Trinity Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $1.04 annualized dividend and a yield of 3.96%. Trinity Industries’s payout ratio is 144.44%.

Trinity Industries declared that its board has initiated a share buyback plan on Thursday, December 8th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the transportation company to buy up to 10.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Trinity Industries Company Profile

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Trinity Industries, Inc engages in the provision of rail transportation products and services in North America. It operates through the following segments: Railcar Leasing and Management Services Group, Rail Products Group and All Other. The Railcar Leasing and Management Services Group segment provides railcar industry services.