The Manufacturers Life Insurance Company Sells 332 Shares of Trinity Industries, Inc. (NYSE:TRN)

The Manufacturers Life Insurance Company reduced its stake in Trinity Industries, Inc. (NYSE:TRN) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,025 shares of the transportation company’s stock after selling 332 shares during the period. The Manufacturers Life Insurance Company’s holdings in Trinity Industries were worth $1,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Encompass Capital Advisors LLC bought a new position in shares of Trinity Industries in the 2nd quarter worth $40,527,000. American Century Companies Inc. boosted its position in shares of Trinity Industries by 136.2% in the 2nd quarter. American Century Companies Inc. now owns 1,047,663 shares of the transportation company’s stock worth $31,346,000 after purchasing an additional 604,050 shares during the last quarter. Millennium Management LLC boosted its position in shares of Trinity Industries by 180.7% in the 2nd quarter. Millennium Management LLC now owns 823,040 shares of the transportation company’s stock worth $24,625,000 after purchasing an additional 529,857 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Trinity Industries by 5.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 500,880 shares of the transportation company’s stock worth $14,986,000 after purchasing an additional 26,300 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of Trinity Industries by 8.2% in the 3rd quarter. Royce & Associates LP now owns 367,421 shares of the transportation company’s stock worth $12,801,000 after purchasing an additional 27,870 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Trinity Industries Stock Performance

TRN stock opened at $38.39 on Wednesday. The business’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $33.19. Trinity Industries, Inc. has a 1-year low of $23.40 and a 1-year high of $38.81. The firm has a market cap of $3.15 billion, a PE ratio of 18.72 and a beta of 1.40. The company has a current ratio of 2.00, a quick ratio of 1.08 and a debt-to-equity ratio of 4.39.

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

Trinity Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.30 dividend. This is an increase from Trinity Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. Trinity Industries’s dividend payout ratio (DPR) is currently 54.63%.

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.