Envestnet Asset Management Inc. lifted its position in shares of Trinity Industries, Inc. (NYSE:TRN) by 32.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,445 shares of the transportation company’s stock after purchasing an additional 13,696 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Trinity Industries worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in TRN. Cambridge Investment Research Advisors Inc. acquired a new stake in Trinity Industries in the 1st quarter valued at $200,000. Stephens Inc. AR acquired a new stake in Trinity Industries in the 1st quarter valued at $204,000. Principle Wealth Partners LLC acquired a new stake in Trinity Industries in the 1st quarter valued at $205,000. Maryland State Retirement & Pension System acquired a new position in Trinity Industries in the first quarter worth $208,000. Finally, Captrust Financial Advisors boosted its stake in Trinity Industries by 749.9% in the first quarter. Captrust Financial Advisors now owns 7,556 shares of the transportation company’s stock worth $215,000 after purchasing an additional 6,667 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors.
NYSE TRN opened at $26.57 on Tuesday. The stock has a 50-day simple moving average of $27.80 and a 200 day simple moving average of $28.02. The company has a market capitalization of $2.64 billion, a PE ratio of -34.51 and a beta of 1.39. The company has a current ratio of 1.96, a quick ratio of 1.17 and a debt-to-equity ratio of 3.19. Trinity Industries, Inc. has a 12 month low of $18.29 and a 12 month high of $33.77.
Trinity Industries declared that its board has authorized a stock repurchase program on Wednesday, September 8th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Friday, October 15th will be given a dividend of $0.21 per share. This is a boost from Trinity Industries’s previous quarterly dividend of $0.01. This represents a $0.84 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Thursday, October 14th. Trinity Industries’s dividend payout ratio is currently 227.03%.
A number of research firms have commented on TRN. Susquehanna Bancshares raised Trinity Industries from a “neutral” rating to a “positive” rating and set a $26.29 price objective on the stock in a research note on Monday, July 26th. Susquehanna upgraded Trinity Industries from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $32.00 to $36.00 in a research report on Monday, July 26th. Finally, Wells Fargo & Company boosted their target price on Trinity Industries from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, July 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $30.66.
Trinity Industries Company Profile
Trinity Industries, Inc engages in the provision of rail transportation products and services in North America. It operates through the following segments: Railcar Leasing and Management Services Group, Rail Products Group and All Other. The Railcar Leasing and Management Services Group segment provides railcar industry services.
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