Verition Fund Management LLC Raises Position in Trinity Industries, Inc. (NYSE:TRN)

Verition Fund Management LLC grew its holdings in shares of Trinity Industries, Inc. (NYSE:TRN) by 26.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,192 shares of the transportation company’s stock after acquiring an additional 2,975 shares during the period. Verition Fund Management LLC’s holdings in Trinity Industries were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in Trinity Industries by 53.9% during the third quarter. BNP Paribas Financial Markets now owns 73,179 shares of the transportation company’s stock valued at $2,550,000 after purchasing an additional 25,624 shares during the period. Quantbot Technologies LP purchased a new position in shares of Trinity Industries during the 3rd quarter valued at about $293,000. FMR LLC grew its stake in shares of Trinity Industries by 23.9% during the 3rd quarter. FMR LLC now owns 116,755 shares of the transportation company’s stock valued at $4,068,000 after acquiring an additional 22,522 shares during the period. Algert Global LLC increased its holdings in Trinity Industries by 125.0% in the 3rd quarter. Algert Global LLC now owns 297,230 shares of the transportation company’s stock worth $10,355,000 after acquiring an additional 165,105 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Trinity Industries by 28.0% in the 3rd quarter. Cerity Partners LLC now owns 12,237 shares of the transportation company’s stock worth $426,000 after acquiring an additional 2,680 shares in the last quarter. 86.57% of the stock is owned by institutional investors.

Trinity Industries Price Performance

Trinity Industries stock opened at $37.91 on Thursday. Trinity Industries, Inc. has a 52-week low of $23.40 and a 52-week high of $39.00. The company has a quick ratio of 1.08, a current ratio of 2.00 and a debt-to-equity ratio of 4.39. The firm’s fifty day moving average is $36.27 and its 200 day moving average is $33.22. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 18.49 and a beta of 1.40.

Trinity Industries (NYSE:TRN) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Trinity Industries had a net margin of 5.31% and a return on equity of 14.57%. The firm had revenue of $798.80 million during the quarter, compared to the consensus estimate of $696.00 million. During the same quarter last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Trinity Industries, Inc. will post 1.75 EPS for the current fiscal year.

Trinity Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.17%. This is an increase from Trinity Industries’s previous quarterly dividend of $0.28. Trinity Industries’s payout ratio is currently 54.63%.

Analyst Ratings Changes

Several brokerages have weighed in on TRN. Susquehanna downgraded shares of Trinity Industries from a “positive” rating to a “neutral” rating and lifted their price target for the company from $34.00 to $35.00 in a report on Monday, October 21st. StockNews.com downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group assumed coverage on Trinity Industries in a report on Monday, November 18th. They issued a “neutral” rating and a $39.00 target price on the stock.

Trinity Industries 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.