Bank of New York Mellon Corp lifted its holdings in shares of Textainer Group Holdings Limited (NYSE:TGH – Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,808 shares of the transportation company’s stock after purchasing an additional 9,283 shares during the period. Bank of New York Mellon Corp owned 0.38% of Textainer Group worth $6,372,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in shares of Textainer Group during the 2nd quarter valued at about $3,747,000. LSV Asset Management boosted its holdings in Textainer Group by 118.8% in the second quarter. LSV Asset Management now owns 198,525 shares of the transportation company’s stock worth $7,818,000 after acquiring an additional 107,800 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Textainer Group by 15.6% in the second quarter. Handelsbanken Fonder AB now owns 12,600 shares of the transportation company’s stock worth $496,000 after acquiring an additional 1,700 shares in the last quarter. Truist Financial Corp bought a new position in Textainer Group in the second quarter worth approximately $481,000. Finally, Capital Management Corp VA bought a new position in Textainer Group in the second quarter worth approximately $5,896,000. Institutional investors own 44.28% of the company’s stock.
Wall Street Analysts Forecast Growth
TGH has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered Textainer Group from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $40.00 to $45.00 in a report on Thursday, July 27th. StockNews.com initiated coverage on Textainer Group in a report on Friday. They issued a “hold” rating on the stock. Finally, B. Riley lowered Textainer Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $50.00 in a report on Monday, October 23rd.
Textainer Group Stock Performance
Shares of Textainer Group stock opened at $49.35 on Tuesday. The company has a market cap of $2.09 billion, a PE ratio of 10.13 and a beta of 1.17. Textainer Group Holdings Limited has a 52 week low of $28.84 and a 52 week high of $49.60. The business has a 50 day moving average price of $42.09 and a 200-day moving average price of $40.24. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 2.78.
Textainer Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, November 30th. Textainer Group’s dividend payout ratio (DPR) is presently 24.64%.
About Textainer Group
Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company's containers include standard and specialized dry freight, and refrigerated containers, as well as other special-purpose containers, which include tank, 45', pallet-wide, and other types of containers.
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