Jennison Associates LLC Reduces Stock Position in Trinity Industries, Inc. (NYSE:TRN)

Jennison Associates LLC trimmed its position in Trinity Industries, Inc. (NYSE:TRN) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,569,383 shares of the transportation company’s stock after selling 1,803 shares during the quarter. Jennison Associates LLC owned about 4.34% of Trinity Industries worth $124,357,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Matrix Trust Co acquired a new position in Trinity Industries in the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Trinity Industries in the second quarter worth $31,000. GAMMA Investing LLC raised its holdings in shares of Trinity Industries by 85.6% during the third quarter. GAMMA Investing LLC now owns 1,017 shares of the transportation company’s stock worth $35,000 after purchasing an additional 469 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Trinity Industries during the second quarter valued at $54,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Trinity Industries during the second quarter valued at $175,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Trinity Industries Trading Down 2.5 %

Shares of Trinity Industries stock opened at $37.03 on Thursday. The firm has a 50-day simple moving average of $34.91 and a two-hundred day simple moving average of $32.46. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.08 and a current ratio of 2.00. Trinity Industries, Inc. has a fifty-two week low of $23.40 and a fifty-two week high of $38.69. The company has a market cap of $3.04 billion, a P/E ratio of 18.06 and a beta of 1.39.

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

Trinity Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.02%. Trinity Industries’s dividend payout ratio is currently 54.63%.

Wall Street Analysts Forecast Growth

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

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.