The Goldman Sachs Group Cuts Trinity Industries (NYSE:TRN) Price Target to $31.00

Trinity Industries (NYSE:TRN) had its price target reduced by The Goldman Sachs Group from $36.00 to $31.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Separately, Susquehanna boosted their price target on Trinity Industries from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd.

Trinity Industries Stock Performance

TRN stock opened at $25.35 on Thursday. The stock has a market cap of $2.07 billion, a P/E ratio of 15.46 and a beta of 1.49. The company has a debt-to-equity ratio of 4.35, a quick ratio of 1.08 and a current ratio of 1.80. The firm has a 50 day simple moving average of $29.05 and a 200 day simple moving average of $33.91. Trinity Industries has a 52 week low of $23.50 and a 52 week high of $39.83.

Trinity Industries (NYSE:TRN) last issued its earnings results on Thursday, February 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Trinity Industries had a net margin of 4.49% and a return on equity of 11.78%. The company had revenue of $629.40 million during the quarter, compared to analyst estimates of $589.30 million. Research analysts anticipate that Trinity Industries will post 1.65 earnings per share for the current fiscal year.

Trinity Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.20 annualized dividend and a yield of 4.73%. Trinity Industries’s dividend payout ratio (DPR) is currently 73.17%.

Insiders Place Their Bets

In other Trinity Industries news, EVP Gregory B. Mitchell sold 9,286 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $31.02, for a total transaction of $288,051.72. Following the transaction, the executive vice president now owns 111,879 shares in the company, valued at $3,470,486.58. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Trading of Trinity Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in Trinity Industries by 387.2% during the 3rd quarter. Barclays PLC now owns 179,500 shares of the transportation company’s stock worth $6,254,000 after acquiring an additional 142,660 shares during the last quarter. M&T Bank Corp bought a new position in shares of Trinity Industries in the third quarter worth about $248,000. Geode Capital Management LLC increased its stake in shares of Trinity Industries by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,848,591 shares of the transportation company’s stock worth $64,418,000 after purchasing an additional 24,832 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Trinity Industries by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,005 shares of the transportation company’s stock worth $376,000 after purchasing an additional 338 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Trinity Industries by 17.9% during the 3rd quarter. Tidal Investments LLC now owns 16,186 shares of the transportation company’s stock valued at $564,000 after purchasing an additional 2,456 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Trinity Industries Company Profile

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.