State of Alaska Department of Revenue Sells 2,373 Shares of Trinity Industries, Inc. (NYSE:TRN)

Posted by Defense World Staff on Oct 15th, 2023

State of Alaska Department of Revenue decreased its holdings in shares of Trinity Industries, Inc. (NYSE:TRN – Free Report) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,394 shares of the transportation company’s stock after selling 2,373 shares during the period. State of Alaska Department of Revenue owned 0.07% of Trinity Industries worth $1,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in Trinity Industries by 12.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 42,600 shares of the transportation company’s stock valued at $1,095,000 after purchasing an additional 4,700 shares during the last quarter. Mastrapasqua Asset Management Inc. bought a new position in Trinity Industries during the 1st quarter valued at approximately $209,000. ProShare Advisors LLC raised its position in Trinity Industries by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 344,895 shares of the transportation company’s stock valued at $8,402,000 after purchasing an additional 43,347 shares during the last quarter. Twelve Points Wealth Management LLC grew its holdings in shares of Trinity Industries by 72.0% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 28,738 shares of the transportation company’s stock worth $739,000 after acquiring an additional 12,030 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Trinity Industries by 1.2% during the 1st quarter. Jennison Associates LLC now owns 4,477,331 shares of the transportation company’s stock worth $109,068,000 after acquiring an additional 54,384 shares during the period. Institutional investors own 82.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRN shares. Wells Fargo & Company upped their target price on Trinity Industries from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. StockNews.com started coverage on Trinity Industries in a report on Thursday, October 5th. They set a “hold” rating on the stock. Stephens reduced their target price on Trinity Industries from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 4th. Finally, Susquehanna upped their target price on Trinity Industries from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.25.

Read Our Latest Research Report on TRN

Trinity Industries Stock Performance

Trinity Industries stock opened at $21.91 on Friday. The stock’s 50 day moving average is $24.37 and its 200 day moving average is $23.92. The company has a quick ratio of 0.81, a current ratio of 1.78 and a debt-to-equity ratio of 4.67. Trinity Industries, Inc. has a twelve month low of $20.07 and a twelve month high of $31.68. The company has a market capitalization of $1.79 billion, a P/E ratio of 23.31 and a beta of 1.41.

Trinity Industries (NYSE:TRN – Get Free Report) last issued its earnings results on Tuesday, August 1st. The transportation company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.09). Trinity Industries had a net margin of 3.20% and a return on equity of 7.20%. The business had revenue of $722.00 million for the quarter, compared to analysts’ expectations of $626.30 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. The business’s revenue for the quarter was up 73.2% on a year-over-year basis. On average, equities research analysts predict that Trinity Industries, Inc. will post 1.23 earnings per share for the current fiscal year.

Trinity Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.75%. This is an increase from Trinity Industries’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is currently 110.64%.

Insider Activity

In other news, CFO Eric R. Marchetto sold 11,765 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $25.00, for a total transaction of $294,125.00. Following the transaction, the chief financial officer now directly owns 262,265 shares of the company’s stock, valued at approximately $6,556,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Trinity Industries Profile

(Free Report)

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.