Trinity Industries, Inc. $TRN Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its Trinity Industries stake by 628.6% in the second quarter, acquiring 41,527 additional shares and ending with 48,133 shares valued at approximately $1.66 million. Institutional investors collectively own 86.57% of TRN.
• Analyst sentiment is neutral: Trinity has a consensus “Hold” rating and a $35 price target, while recent analysts lowered their ratings or price targets.
• TRN shares opened at $27.90, and the company declared a quarterly dividend of $0.31 per share, equivalent to a $1.24 annualized payout and a 4.4% dividend yield. An executive separately sold 17,000 shares under a pre-arranged trading plan.

Corient Private Wealth LP raised its holdings in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 628.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,133 shares of the transportation company's stock after acquiring an additional 41,527 shares during the quarter. Corient Private Wealth LP owned approximately 0.06% of Trinity Industries worth $1,664,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Trinity Industries by 2.9% during the 2nd quarter. BlackRock Inc. now owns 13,356,707 shares of the transportation company's stock valued at $461,875,000 after buying an additional 370,390 shares during the period. Capital International Investors increased its position in Trinity Industries by 65.1% in the 4th quarter. Capital International Investors now owns 8,927,843 shares of the transportation company's stock worth $236,251,000 after purchasing an additional 3,518,796 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Trinity Industries by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,801,236 shares of the transportation company's stock worth $154,500,000 after purchasing an additional 81,263 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Trinity Industries by 9.2% during the 1st quarter. Bank of America Corp DE now owns 1,089,488 shares of the transportation company's stock worth $35,060,000 after purchasing an additional 91,964 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Trinity Industries by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 890,037 shares of the transportation company's stock worth $30,777,000 after purchasing an additional 3,568 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Wall Street Analyst Weigh In

TRN has been the subject of several recent research reports. Susquehanna lowered their price target on Trinity Industries from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Wall Street Zen lowered shares of Trinity Industries from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, Weiss Ratings cut shares of Trinity Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.00.

Insider Activity at Trinity Industries

In other news, EVP Kevin Poet sold 17,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $29.55, for a total value of $502,350.00. Following the completion of the sale, the executive vice president directly owned 69,225 shares in the company, valued at approximately $2,045,598.75. The trade was a 19.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by corporate insiders.

Trinity Industries Price Performance

Shares of NYSE:TRN opened at $27.90 on Friday. Trinity Industries, Inc. has a fifty-two week low of $24.76 and a fifty-two week high of $38.31. The business has a 50-day moving average of $30.61 and a two-hundred day moving average of $32.40. The stock has a market capitalization of $2.22 billion, a P/E ratio of 6.72 and a beta of 1.35. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.89 and a quick ratio of 0.91.

Trinity Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.4%. Trinity Industries's dividend payout ratio (DPR) is currently 29.88%.

Trinity Industries Company Profile

Trinity Industries, Inc is an industrial company focused primarily on the North American rail transportation market. Through its TrinityRail business, the company designs, manufactures, sells, leases and manages a broad range of freight railcars, including covered hopper cars, tank cars, gondolas, boxcars and other specialized equipment.

TrinityRail also provides railcar parts and components, maintenance and repair services, engineering and manufacturing support, and fleet-management services.

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