Trinity Industries, Inc. $TRN Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp more than doubled its Trinity Industries stake in the second quarter, purchasing 35,168 additional shares for a total of 67,043 shares valued at approximately $2.3 million. Institutional investors collectively own 86.57% of TRN.
• Analyst sentiment is mixed, with one Buy rating and two Hold ratings. Trinity has an average consensus rating of Hold and a consensus price target of $35.00.
• Trinity pays a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 4.2% yield. Shares opened at $29.62, below their 50-day and 200-day moving averages.

Fifth Third Bancorp grew its position in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 110.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,043 shares of the transportation company's stock after buying an additional 35,168 shares during the quarter. Fifth Third Bancorp owned 0.08% of Trinity Industries worth $2,318,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors increased its position in Trinity Industries by 65.1% during 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 period. Dimensional Fund Advisors LP grew its holdings in Trinity Industries by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,801,236 shares of the transportation company's stock worth $154,500,000 after acquiring an additional 81,263 shares during the period. State Street Corp raised its position in Trinity Industries by 2.6% in the fourth quarter. State Street Corp now owns 3,106,755 shares of the transportation company's stock worth $82,143,000 after acquiring an additional 79,332 shares in the last quarter. Invesco Ltd. lifted its holdings in Trinity Industries by 11.0% in the second quarter. Invesco Ltd. now owns 1,421,839 shares of the transportation company's stock valued at $38,404,000 after acquiring an additional 140,513 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Trinity Industries by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,298,487 shares of the transportation company's stock worth $34,332,000 after purchasing an additional 20,576 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Wall Street Analyst Weigh In

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

Trinity Industries Price Performance

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

Trinity Industries Announces Dividend

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

About Trinity Industries

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.

Want to see what other hedge funds are holding TRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trinity Industries, Inc. (NYSE:TRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source