Jennison Associates LLC Decreases Holdings in Trinity Industries, Inc. (NYSE:TRN)

Jennison Associates LLC reduced its stake in shares of Trinity Industries, Inc. (NYSE:TRN) by 21.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,691,884 shares of the transportation company’s stock after selling 1,028,222 shares during the quarter. Jennison Associates LLC’s holdings in Trinity Industries were worth $98,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ramirez Asset Management Inc. bought a new position in shares of Trinity Industries during the 3rd quarter valued at approximately $32,000. Huntington National Bank boosted its stake in Trinity Industries by 61.8% during the third quarter. Huntington National Bank now owns 1,382 shares of the transportation company’s stock worth $34,000 after buying an additional 528 shares during the period. Criterion Capital Advisors LLC bought a new position in Trinity Industries during the fourth quarter valued at $76,000. International Assets Investment Management LLC raised its stake in shares of Trinity Industries by 2,559.0% in the fourth quarter. International Assets Investment Management LLC now owns 7,977 shares of the transportation company’s stock valued at $212,000 after acquiring an additional 7,677 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of Trinity Industries in the third quarter valued at $216,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Susquehanna cut their price target on shares of Trinity Industries from $32.00 to $30.00 and set a “positive” rating on the stock in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Buying and Selling

In other news, CFO Eric R. Marchetto sold 9,781 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total transaction of $273,868.00. Following the transaction, the chief financial officer now directly owns 233,704 shares of the company’s stock, valued at $6,543,712. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Trinity Industries Stock Performance

Shares of Trinity Industries stock opened at $26.42 on Tuesday. The stock’s fifty day moving average is $26.35 and its two-hundred day moving average is $25.25. The company has a quick ratio of 0.78, a current ratio of 1.91 and a debt-to-equity ratio of 4.51. The company has a market capitalization of $2.16 billion, a PE ratio of 20.97 and a beta of 1.39. Trinity Industries, Inc. has a 52 week low of $20.04 and a 52 week high of $28.86.

Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Thursday, February 22nd. The transportation company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The company had revenue of $797.90 million during the quarter, compared to analyst estimates of $749.25 million. Trinity Industries had a net margin of 3.55% and a return on equity of 9.29%. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. As a group, analysts expect that Trinity Industries, Inc. will post 1.46 earnings per share for the current year.

Trinity Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Friday, April 12th. Trinity Industries’s dividend payout ratio (DPR) is 88.89%.

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.