Jennison Associates LLC Trims Stock Holdings in Trinity Industries, Inc. $TRN

Key Points

• Jennison Associates reduced its Trinity Industries stake by 4.5% in the second quarter, selling 110,278 shares and retaining 2.33 million shares worth approximately $80.7 million. Institutional investors collectively own 86.57% of TRN.
• Analyst sentiment is largely neutral: Trinity has an average “Hold” rating and a consensus price target of $35, with recent targets ranging from $34 to $36.
• TRN shares opened at $29.62, while the company maintains a quarterly dividend of $0.31, equivalent to an annualized $1.24 payout and a 4.2% yield.

Jennison Associates LLC lowered its stake in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,333,043 shares of the transportation company's stock after selling 110,278 shares during the period. Jennison Associates LLC owned 2.93% of Trinity Industries worth $80,677,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Whittier Trust Co. raised its stake in Trinity Industries by 880.7% in the 1st quarter. Whittier Trust Co. now owns 863 shares of the transportation company's stock valued at $28,000 after purchasing an additional 775 shares during the last quarter. Strs Ohio acquired a new stake in shares of Trinity Industries during the 1st quarter worth about $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 worth $27,000 after purchasing an additional 494 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Trinity Industries during the third quarter worth about $41,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Trinity Industries by 24.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,538 shares of the transportation company's stock worth $41,000 after buying an additional 298 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TRN. The Goldman Sachs Group reissued a "neutral" rating and set a $36.00 price objective on shares of Trinity Industries in a research note on Thursday, April 30th. Susquehanna decreased their target price on shares of Trinity Industries from $35.00 to $34.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Wall Street Zen cut shares of Trinity Industries from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Trinity Industries in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Trinity Industries presently has an average rating of "Hold" and a consensus price target of $35.00.

Trinity Industries Stock Up 1.1%

Shares of TRN opened at $29.62 on Friday. The firm has a market cap of $2.36 billion, a PE ratio of 7.14 and a beta of 1.37. The company's fifty day moving average is $34.27 and its two-hundred day moving average is $33.13. Trinity Industries, Inc. has a fifty-two week low of $24.76 and a fifty-two week high of $38.31. The company has a quick ratio of 0.91, a current ratio of 1.89 and a debt-to-equity ratio of 4.56.

Trinity Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were issued a $0.31 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.24 dividend on an annualized basis and a yield of 4.2%. Trinity Industries's dividend payout ratio (DPR) is presently 29.88%.

Trinity Industries Company Profile

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.

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