Catalyst Capital Advisors LLC bought a new position in Trinity Industries Inc (NYSE:TRN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,400 shares of the transportation company’s stock, valued at approximately $352,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ValueAct Holdings L.P. raised its position in shares of Trinity Industries by 10.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock worth $550,438,000 after buying an additional 1,672,510 shares during the period. Janus Henderson Group PLC raised its position in shares of Trinity Industries by 16.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,512,499 shares of the transportation company’s stock worth $143,949,000 after buying an additional 633,336 shares during the period. Impala Asset Management LLC raised its position in shares of Trinity Industries by 8.5% in the 3rd quarter. Impala Asset Management LLC now owns 2,130,641 shares of the transportation company’s stock worth $67,967,000 after buying an additional 167,491 shares during the period. Jennison Associates LLC raised its position in shares of Trinity Industries by 98.8% in the 4th quarter. Jennison Associates LLC now owns 2,127,208 shares of the transportation company’s stock worth $79,685,000 after buying an additional 1,056,986 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Trinity Industries by 31.6% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 751,052 shares of the transportation company’s stock worth $23,957,000 after buying an additional 180,144 shares during the period. 82.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trinity Industries Inc (TRN) opened at $33.51 on Thursday. Trinity Industries Inc has a twelve month low of $25.01 and a twelve month high of $38.25. The stock has a market capitalization of $5,090.00, a price-to-earnings ratio of 22.34, a P/E/G ratio of 2.34 and a beta of 2.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.70 and a quick ratio of 2.62.
Trinity Industries announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Several research analysts recently weighed in on TRN shares. Zacks Investment Research raised Trinity Industries from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, January 2nd. ValuEngine raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price target on shares of Trinity Industries in a report on Friday, December 22nd. Seaport Global Securities initiated coverage on Trinity Industries in a report on Thursday, January 4th. They issued a “neutral” rating for the company. Finally, Cowen increased their price target on Trinity Industries from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.25.
In related news, SVP William A. Mcwhirter sold 20,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the sale, the senior vice president now directly owns 191,339 shares in the company, valued at approximately $7,060,409.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
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About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation 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; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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