Bank of Montreal Can Sells 26,031 Shares of Trinity Industries Inc (TRN)

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Bank of Montreal Can cut its position in shares of Trinity Industries Inc (NYSE:TRN) by 45.4% during the 1st quarter, Holdings Channel reports. The firm owned 31,342 shares of the transportation company’s stock after selling 26,031 shares during the period. Bank of Montreal Can’s holdings in Trinity Industries were worth $680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. ValueAct Holdings L.P. increased its position in shares of Trinity Industries by 2.3% during the 4th quarter. ValueAct Holdings L.P. now owns 21,900,000 shares of the transportation company’s stock valued at $450,921,000 after purchasing an additional 492,109 shares during the last quarter. Vanguard Group Inc increased its position in shares of Trinity Industries by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 12,926,301 shares of the transportation company’s stock valued at $473,620,000 after purchasing an additional 64,718 shares during the last quarter. BlackRock Inc. increased its position in shares of Trinity Industries by 3.1% during the 4th quarter. BlackRock Inc. now owns 12,779,413 shares of the transportation company’s stock valued at $263,128,000 after purchasing an additional 383,426 shares during the last quarter. Jennison Associates LLC increased its position in shares of Trinity Industries by 32.9% during the 4th quarter. Jennison Associates LLC now owns 2,250,877 shares of the transportation company’s stock valued at $46,346,000 after purchasing an additional 557,344 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Trinity Industries by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,178,459 shares of the transportation company’s stock valued at $44,854,000 after purchasing an additional 18,702 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

TRN opened at $20.49 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.86 and a current ratio of 2.02. Trinity Industries Inc has a 1 year low of $18.99 and a 1 year high of $39.35. The company has a market cap of $2.66 billion, a P/E ratio of 25.61, a P/E/G ratio of 1.60 and a beta of 2.08.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Trinity Industries had a return on equity of 5.63% and a net margin of 4.66%. The business had revenue of $604.80 million for the quarter, compared to analyst estimates of $660.72 million. During the same period last year, the company earned $0.30 EPS. Trinity Industries’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts forecast that Trinity Industries Inc will post 1.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, July 12th. This represents a $0.68 annualized dividend and a yield of 3.32%. Trinity Industries’s payout ratio is 85.00%.

In related news, insider Brian D. Madison sold 2,157 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $20.90, for a total transaction of $45,081.30. Following the transaction, the insider now directly owns 58,345 shares in the company, valued at approximately $1,219,410.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 18.50% of the stock is owned by company insiders.

Several equities analysts have recently commented on TRN shares. Buckingham Research lowered Trinity Industries from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $26.00 in a research report on Friday, March 22nd. TheStreet lowered Trinity Industries from a “b” rating to a “c” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded Trinity Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 28th. Stifel Nicolaus set a $33.00 price objective on Trinity Industries and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Cowen reiterated a “buy” rating and set a $30.00 price objective on shares of Trinity Industries in a research report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $27.22.

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Trinity Industries Company Profile

Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.

Read More: Retained Earnings

Want to see what other hedge funds are holding TRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trinity Industries Inc (NYSE:TRN).

Institutional Ownership by Quarter for Trinity Industries (NYSE:TRN)

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