StockNews.com Begins Coverage on Trinity Industries (NYSE:TRN)

StockNews.com began coverage on shares of Trinity Industries (NYSE:TRN – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the transportation company’s stock.

Several other analysts have also weighed in on the company. Stephens decreased their price objective on Trinity Industries from $28.00 to $26.00 and set an equal weight rating on the stock in a report on Wednesday, February 22nd. Susquehanna cut their target price on Trinity Industries from $30.00 to $26.00 and set a neutral rating for the company in a research report on Tuesday, March 7th. Wells Fargo & Company cut their target price on Trinity Industries from $34.00 to $30.00 and set an overweight rating for the company in a research report on Wednesday, February 22nd. Finally, TheStreet upgraded Trinity Industries from a c+ rating to a b rating in a research report on Friday, November 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $28.00.

Trinity Industries Trading Down 4.1 %

Shares of NYSE:TRN opened at $22.06 on Thursday. Trinity Industries has a 1-year low of $20.94 and a 1-year high of $35.35. The firm has a market capitalization of $1.79 billion, a PE ratio of 30.64 and a beta of 1.40. The business’s 50 day moving average is $27.05 and its 200-day moving average is $26.93.

Trinity Industries (NYSE:TRN – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Trinity Industries had a return on equity of 6.26% and a net margin of 3.04%. The company had revenue of $591.20 million for the quarter, compared to analyst estimates of $786.03 million. During the same quarter last year, the firm earned $0.08 EPS. Trinity Industries’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, sell-side analysts predict that Trinity Industries will post 1.67 EPS for the current year.

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

Trinity Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $1.04 annualized dividend and a yield of 4.71%. Trinity Industries’s payout ratio is 144.44%.

Insider Buying and Selling at Trinity Industries

In other Trinity Industries news, CEO Jean Savage acquired 4,485 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was purchased at an average price of $22.29 per share, for a total transaction of $99,970.65. Following the transaction, the chief executive officer now owns 189,876 shares in the company, valued at approximately $4,232,336.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Trinity Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Trinity Industries by 9.5% during the third quarter. BlackRock Inc. now owns 13,460,769 shares of the transportation company’s stock worth $287,386,000 after purchasing an additional 1,166,966 shares during the period. Vanguard Group Inc. grew its stake in shares of Trinity Industries by 9.8% during the third quarter. Vanguard Group Inc. now owns 9,515,622 shares of the transportation company’s stock worth $203,159,000 after purchasing an additional 849,142 shares during the period. Jennison Associates LLC grew its stake in shares of Trinity Industries by 23.6% during the third quarter. Jennison Associates LLC now owns 4,265,266 shares of the transportation company’s stock worth $91,063,000 after purchasing an additional 815,420 shares during the period. Norges Bank acquired a new stake in shares of Trinity Industries during the fourth quarter worth $21,951,000. Finally, Millennium Management LLC acquired a new position in Trinity Industries in the fourth quarter valued at about $7,828,000. Institutional investors own 86.23% of the company’s stock.

About Trinity Industries

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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.