The Virginia Retirement Systems ET AL Acquires New Position in Trinity Industries Inc. (TRN)

The Virginia Retirement Systems ET AL Acquires New Position in Trinity Industries Inc. (TRN)

Virginia Retirement Systems ET AL acquired a new position in Trinity Industries Inc. (NYSE:TRN) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,800 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in shares of Trinity Industries by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,644,976 shares of the company’s stock worth $85,050,000 after buying an additional 30,402 shares in the last quarter. State Street Corp raised its stake in shares of Trinity Industries by 1.7% in the first quarter. State Street Corp now owns 4,002,036 shares of the company’s stock worth $73,280,000 after buying an additional 68,123 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Trinity Industries by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,236,197 shares of the company’s stock worth $41,526,000 after buying an additional 7,693 shares in the last quarter. Societe Generale bought a new stake in shares of Trinity Industries during the second quarter worth approximately $15,182,000. Finally, SG Americas Securities LLC raised its stake in shares of Trinity Industries by 362.6% in the second quarter. SG Americas Securities LLC now owns 817,560 shares of the company’s stock worth $15,182,000 after buying an additional 640,814 shares in the last quarter. 72.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Trinity Industries Inc. (NYSE:TRN) opened at 23.28 on Thursday. The firm has a market capitalization of $3.55 billion, a P/E ratio of 6.01 and a beta of 2.16. Trinity Industries Inc. has a one year low of $14.94 and a one year high of $30.38. The firm’s 50-day moving average is $24.09 and its 200 day moving average is $20.76.

Trinity Industries (NYSE:TRN) last issued its earnings results on Thursday, July 21st. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The firm earned $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Trinity Industries had a return on equity of 14.62% and a net margin of 10.91%. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Equities research analysts predict that Trinity Industries Inc. will post $2.20 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date is Wednesday, October 12th. Trinity Industries’s payout ratio is 11.37%.

Several brokerages have recently issued reports on TRN. Cowen and Company raised their target price on shares of Trinity Industries from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, July 25th. Susquehanna lowered shares of Trinity Industries from a “positive” rating to a “neutral” rating and raised their target price for the company from $23.00 to $24.00 in a research note on Monday, July 25th. Longbow Research lowered shares of Trinity Industries from a “buy” rating to a “neutral” rating in a research note on Monday, June 20th. Zacks Investment Research raised shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, June 28th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Trinity Industries in a research note on Wednesday, June 22nd. Five research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Trinity Industries presently has a consensus rating of “Hold” and an average price target of €21.11 ($23.46).

About Trinity Industries

Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical and construction sectors. The Company’s products and services include railcars and railcar parts; parts and steel components; the leasing, management and maintenance of railcars; highway products; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.

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