State Board of Administration of Florida Retirement System Decreases Stake in Trinity Industries, Inc. (NYSE:TRN)

State Board of Administration of Florida Retirement System cut its holdings in Trinity Industries, Inc. (NYSE:TRN – Get Rating) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,241 shares of the transportation company’s stock after selling 1,990 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Trinity Industries were worth $894,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TRN. BlackRock Inc. boosted its stake in shares of Trinity Industries by 9.5% in the third quarter. BlackRock Inc. now owns 13,460,769 shares of the transportation company’s stock valued at $287,386,000 after buying an additional 1,166,966 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 last quarter. State Street Corp raised its holdings in Trinity Industries by 8.5% during the third quarter. State Street Corp now owns 2,882,231 shares of the transportation company’s stock worth $61,536,000 after purchasing an additional 226,784 shares during the last quarter. Fisher Asset Management LLC acquired a new position in Trinity Industries during the fourth quarter worth $6,644,000. Finally, Wellington Management Group LLP raised its holdings in Trinity Industries by 1,354.3% during the first quarter. Wellington Management Group LLP now owns 130,468 shares of the transportation company’s stock worth $4,483,000 after purchasing an additional 121,497 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Trinity Industries

In other Trinity Industries news, CEO Jean Savage bought 4,300 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was purchased at an average cost of $23.19 per share, for a total transaction of $99,717.00. Following the completion of the purchase, the chief executive officer now owns 194,176 shares of the company’s stock, valued at approximately $4,502,941.44. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Todd Maclin purchased 4,500 shares of the stock in a transaction on Friday, March 17th. The stock was purchased at an average price of $21.19 per share, with a total value of $95,355.00. Following the completion of the transaction, the director now owns 27,548 shares in the company, valued at $583,742.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jean Savage purchased 4,300 shares of the stock in a transaction on Monday, March 20th. The shares were purchased at an average cost of $23.19 per share, with a total value of $99,717.00. Following the transaction, the chief executive officer now owns 194,176 shares of the company’s stock, valued at approximately $4,502,941.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 13,285 shares of company stock worth $295,043. 1.20% of the stock is currently owned by insiders.

Trinity Industries Stock Performance

NYSE TRN opened at $20.61 on Wednesday. Trinity Industries, Inc. has a fifty-two week low of $20.07 and a fifty-two week high of $31.68. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 26.42 and a beta of 1.38. The business has a fifty day moving average of $23.22 and a 200-day moving average of $26.82. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 4.56.

Trinity Industries (NYSE:TRN – Get Rating) last released its earnings results on Tuesday, May 2nd. The transportation company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). The business had revenue of $641.70 million during the quarter, compared to analyst estimates of $654.63 million. Trinity Industries had a net margin of 3.04% and a return on equity of 6.61%. The business’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, analysts predict that Trinity Industries, Inc. will post 1.52 earnings per share for the current fiscal year.

Trinity Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be paid a $0.01 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.04 annualized dividend and a yield of 0.19%. Trinity Industries’s payout ratio is currently 133.33%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Susquehanna reduced their price objective on Trinity Industries from $26.00 to $22.00 in a report on Wednesday, May 3rd. Stephens reduced their price objective on Trinity Industries from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. TheStreet cut Trinity Industries from a “b-” rating to a “c” rating in a report on Tuesday, May 2nd. Wells Fargo & Company cut their price target on Trinity Industries from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on Trinity Industries in a report on Thursday, March 16th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.00.

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.