Nordea Investment Management AB Has $1.99 Million Position in Trinity Industries, Inc. (TRN)
Nordea Investment Management AB boosted its stake in Trinity Industries, Inc. (NYSE:TRN) by 25.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,090 shares of the transportation company’s stock after buying an additional 14,460 shares during the quarter. Nordea Investment Management AB’s holdings in Trinity Industries were worth $1,993,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of TRN. Atlantic Trust Group LLC purchased a new stake in Trinity Industries during the 2nd quarter worth approximately $618,000. Creative Planning raised its holdings in shares of Trinity Industries by 17.0% during the second quarter. Creative Planning now owns 20,344 shares of the transportation company’s stock valued at $570,000 after acquiring an additional 2,949 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Trinity Industries by 0.8% during the first quarter. TIAA CREF Investment Management LLC now owns 270,616 shares of the transportation company’s stock valued at $7,185,000 after acquiring an additional 2,232 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Trinity Industries during the first quarter valued at approximately $3,159,000. Finally, Legal & General Group Plc raised its holdings in shares of Trinity Industries by 35.4% during the first quarter. Legal & General Group Plc now owns 207,410 shares of the transportation company’s stock valued at $5,506,000 after acquiring an additional 54,173 shares during the last quarter. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on TRN. Cowen and Company raised their target price on Trinity Industries from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut Trinity Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 23rd. Axiom Securities reissued a “sell” rating on shares of Trinity Industries in a research note on Thursday, July 13th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price objective (up from $31.00) on shares of Trinity Industries in a research note on Sunday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Trinity Industries presently has a consensus rating of “Buy” and a consensus target price of $33.25.
In other Trinity Industries news, major shareholder Holdings L.P. Valueact purchased 167,395 shares of the stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $27.51 per share, for a total transaction of $4,605,036.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Valueact Capital Master Fund, acquired 202,500 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $28.47 per share, with a total value of $5,765,175.00. The disclosure for this purchase can be found here. Insiders acquired 1,709,624 shares of company stock worth $48,298,143 in the last ninety days. Insiders own 2.00% of the company’s stock.
Shares of Trinity Industries, Inc. (NYSE TRN) opened at 35.07 on Wednesday. The stock has a 50 day moving average price of $29.70 and a 200-day moving average price of $27.67. Trinity Industries, Inc. has a 52-week low of $20.80 and a 52-week high of $35.97. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 21.56 and a beta of 2.19.
Trinity Industries (NYSE:TRN) last posted its earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Trinity Industries had a net margin of 6.20% and a return on equity of 5.75%. The firm had revenue of $905.50 million during the quarter, compared to the consensus estimate of $947.40 million. During the same period last year, the firm posted $0.62 EPS. The firm’s revenue for the quarter was down 23.6% on a year-over-year basis. On average, equities research analysts predict that Trinity Industries, Inc. will post $1.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is presently 32.10%.
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Trinity Industries Profile
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation and construction sectors. The Company’s products and services include railcars and railcar parts; parts and steel components; the leasing, management and maintenance of railcars; highway products; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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