Verition Fund Management LLC Purchases 2,975 Shares of Trinity Industries, Inc. (NYSE:TRN)

Verition Fund Management LLC grew its position in shares of Trinity Industries, Inc. (NYSE:TRN) by 26.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,192 shares of the transportation company’s stock after acquiring an additional 2,975 shares during the period. Verition Fund Management LLC’s holdings in Trinity Industries were worth $494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TRN. BNP Paribas Financial Markets boosted its holdings in Trinity Industries by 53.9% in the third quarter. BNP Paribas Financial Markets now owns 73,179 shares of the transportation company’s stock valued at $2,550,000 after acquiring an additional 25,624 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Trinity Industries during the third quarter valued at about $293,000. FMR LLC raised its stake in Trinity Industries by 23.9% in the third quarter. FMR LLC now owns 116,755 shares of the transportation company’s stock worth $4,068,000 after buying an additional 22,522 shares in the last quarter. Algert Global LLC lifted its holdings in Trinity Industries by 125.0% in the third quarter. Algert Global LLC now owns 297,230 shares of the transportation company’s stock worth $10,355,000 after buying an additional 165,105 shares during the period. Finally, Cerity Partners LLC boosted its position in Trinity Industries by 28.0% during the 3rd quarter. Cerity Partners LLC now owns 12,237 shares of the transportation company’s stock valued at $426,000 after acquiring an additional 2,680 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Trinity Industries Stock Performance

Shares of TRN opened at $37.91 on Thursday. The business’s 50 day moving average price is $36.27 and its 200-day moving average price is $33.22. The stock has a market cap of $3.11 billion, a P/E ratio of 18.49 and a beta of 1.40. Trinity Industries, Inc. has a 52 week low of $23.40 and a 52 week high of $39.00. The company has a quick ratio of 1.08, a current ratio of 2.00 and a debt-to-equity ratio of 4.39.

Trinity Industries (NYSE:TRN) last issued its earnings results on Thursday, October 31st. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. Trinity Industries had a net margin of 5.31% and a return on equity of 14.57%. The business had revenue of $798.80 million during the quarter, compared to analysts’ expectations of $696.00 million. During the same period in the previous year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Trinity Industries, Inc. will post 1.75 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 Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.30 dividend. This is a positive change from Trinity Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, January 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.17%. Trinity Industries’s dividend payout ratio (DPR) is presently 54.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRN. Susquehanna lowered Trinity Industries from a “positive” rating to a “neutral” rating and increased their target price for the stock from $34.00 to $35.00 in a research report on Monday, October 21st. The Goldman Sachs Group started coverage on Trinity Industries in a report on Monday, November 18th. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, StockNews.com cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Trinity Industries 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.