Jennison Associates LLC Purchases 73,160 Shares of Trinity Industries, Inc. (NYSE:TRN)

Jennison Associates LLC lifted its stake in Trinity Industries, Inc. (NYSE:TRN - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,661,394 shares of the transportation company's stock after buying an additional 73,160 shares during the period. Jennison Associates LLC owned approximately 4.49% of Trinity Industries worth $102,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Millstone Evans Group LLC purchased a new position in shares of Trinity Industries during the fourth quarter worth about $54,000. Xponance Inc. purchased a new position in Trinity Industries during the 4th quarter valued at approximately $208,000. Mercer Global Advisors Inc. ADV purchased a new position in Trinity Industries during the fourth quarter worth $225,000. Farringdon Capital Ltd. purchased a new position in Trinity Industries in the 4th quarter worth about $230,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Trinity Industries during the 4th quarter valued at $241,000. 86.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRN has been the subject of a number of recent analyst reports. Susquehanna cut their price objective on Trinity Industries from $35.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their target price on Trinity Industries from $36.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

Trinity Industries Trading Up 2.4%

TRN traded up $0.62 during trading on Tuesday, reaching $26.65. 541,554 shares of the stock traded hands, compared to its average volume of 565,971. The stock has a market capitalization of $2.17 billion, a PE ratio of 16.45 and a beta of 1.45. Trinity Industries, Inc. has a 12 month low of $23.01 and a 12 month high of $39.83. The stock's 50-day moving average is $26.66 and its 200 day moving average is $29.32. The company has a quick ratio of 0.87, a current ratio of 1.70 and a debt-to-equity ratio of 4.32.

Trinity Industries (NYSE:TRN - Get Free Report) last posted its earnings results on Thursday, May 1st. The transportation company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.04). The firm had revenue of $585.40 million for the quarter, compared to analysts' expectations of $614.02 million. Trinity Industries had a return on equity of 11.47% and a net margin of 4.79%. The business's revenue for the quarter was down 27.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. Equities analysts anticipate that Trinity Industries, Inc. will post 1.65 earnings per share for the current year.

Trinity Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Tuesday, July 15th. Trinity Industries's dividend payout ratio is presently 74.07%.

Trinity Industries Company 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.