BlackRock Inc. grew its stake in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,356,707 shares of the transportation company's stock after purchasing an additional 370,390 shares during the period. BlackRock Inc. owned approximately 16.77% of Trinity Industries worth $461,875,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in Trinity Industries by 24.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,538 shares of the transportation company's stock worth $41,000 after purchasing an additional 298 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Trinity Industries by 8.3% during the first quarter. PNC Financial Services Group Inc. now owns 5,567 shares of the transportation company's stock valued at $179,000 after purchasing an additional 427 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Trinity Industries by 0.6% during the first quarter. Royal Bank of Canada now owns 73,775 shares of the transportation company's stock valued at $2,069,000 after purchasing an additional 457 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Trinity Industries by 94.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,016 shares of the transportation company's stock valued at $27,000 after buying an additional 494 shares in the last quarter. Finally, Cerity Partners LLC increased its position in Trinity Industries by 3.5% during the 2nd quarter. Cerity Partners LLC now owns 16,343 shares of the transportation company's stock valued at $441,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.
Trinity Industries Stock Down 0.3%
Shares of TRN stock opened at $29.70 on Tuesday. Trinity Industries, Inc. has a 12 month low of $24.76 and a 12 month high of $38.31. The company has a 50 day simple moving average of $33.73 and a two-hundred day simple moving average of $33.21. The stock has a market cap of $2.37 billion, a P/E ratio of 7.16 and a beta of 1.37. The company has a current ratio of 1.89, a quick ratio of 0.91 and a debt-to-equity ratio of 4.56.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on TRN. The Goldman Sachs Group restated a "neutral" rating and set a $36.00 price objective on shares of Trinity Industries in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Trinity Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Wall Street Zen cut Trinity Industries from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, Susquehanna dropped their price objective on Trinity Industries from $35.00 to $34.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.00.
Read Our Latest Research Report on Trinity Industries
About Trinity Industries
(
Free Report)
Trinity Industries, Inc is a diversified industrial company headquartered in Dallas, Texas, with roots dating back to its incorporation in 1933. The company principally serves the transportation, infrastructure and energy sectors through the design, manufacture and leasing of railcars and related components. Trinity operates multiple business segments that encompass railcar manufacturing, aftermarket parts production, railcar leasing and management, inland barge construction and leasing, as well as infrastructure products for highways and energy applications.
In its railcar segment, Trinity produces a broad portfolio of freight cars—including tank cars, covered hoppers, gondolas and autoracks—alongside critical system components such as braking systems, couplers and wheels.
See Also
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