Caxton Associates LLP Makes New Investment in Trinity Industries, Inc. $TRN

Key Points

• Caxton Associates LLP has acquired a new stake in Trinity Industries, purchasing 12,775 shares valued at approximately $358,000 in the first quarter of 2023.
• Trinity Industries reported earnings per share (EPS) of $0.19 for the latest quarter, missing the expected $0.31, and experienced a 39.8% year-over-year revenue decline.
• The company has announced a quarterly dividend of $0.30, with a dividend yield of 4.3%, but its payout ratio currently exceeds 100%.

Caxton Associates LLP purchased a new stake in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,775 shares of the transportation company's stock, valued at approximately $358,000.

A number of other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of Trinity Industries by 2.0% in the first quarter. Jennison Associates LLC now owns 3,661,394 shares of the transportation company's stock valued at $102,739,000 after buying an additional 73,160 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Trinity Industries by 15.9% in the 1st quarter. American Century Companies Inc. now owns 2,534,417 shares of the transportation company's stock valued at $71,116,000 after purchasing an additional 347,051 shares during the last quarter. Invesco Ltd. increased its stake in shares of Trinity Industries by 48.5% in the 1st quarter. Invesco Ltd. now owns 1,281,326 shares of the transportation company's stock valued at $35,954,000 after purchasing an additional 418,371 shares during the last quarter. Northern Trust Corp increased its stake in shares of Trinity Industries by 2.6% in the 1st quarter. Northern Trust Corp now owns 1,202,608 shares of the transportation company's stock valued at $33,745,000 after purchasing an additional 30,572 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Trinity Industries by 14.8% during the 4th quarter. Nuveen Asset Management LLC now owns 819,337 shares of the transportation company's stock worth $28,759,000 after acquiring an additional 105,374 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRN. Susquehanna reduced their price objective on Trinity Industries from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. Wall Street Zen raised Trinity Industries from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.50.

Trinity Industries Trading Up 3.1%

Shares of NYSE:TRN traded up $0.87 during midday trading on Thursday, reaching $28.61. The company's stock had a trading volume of 609,965 shares, compared to its average volume of 461,873. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 25.10 and a beta of 1.53. The company has a debt-to-equity ratio of 4.66, a quick ratio of 1.01 and a current ratio of 1.96. The firm has a 50 day moving average price of $27.41 and a two-hundred day moving average price of $26.98. Trinity Industries, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $39.83.

Trinity Industries (NYSE:TRN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The transportation company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.12). The business had revenue of $506.20 million during the quarter, compared to analyst estimates of $589.96 million. Trinity Industries had a net margin of 3.83% and a return on equity of 8.49%. The firm's revenue for the quarter was down 39.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Trinity Industries has set its FY 2025 guidance at 1.400-1.60 EPS. As a group, analysts forecast that Trinity Industries, Inc. will post 1.65 earnings per share for the current year.

Trinity Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 15th. Trinity Industries's payout ratio is presently 105.26%.

About Trinity Industries

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.