Jennison Associates LLC Reduces Stock Holdings in Trinity Industries, Inc. (NYSE:TRN)

Jennison Associates LLC decreased its holdings in Trinity Industries, Inc. (NYSE:TRN - Free Report) by 21.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,691,884 shares of the transportation company's stock after selling 1,028,222 shares during the period. Jennison Associates LLC owned about 4.51% of Trinity Industries worth $98,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRN. Criterion Capital Advisors LLC bought a new stake in Trinity Industries in the 4th quarter valued at approximately $76,000. Guardian Investment Management bought a new position in shares of Trinity Industries in the fourth quarter valued at approximately $306,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Trinity Industries by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,969 shares of the transportation company's stock worth $451,000 after buying an additional 1,235 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in Trinity Industries during the fourth quarter worth about $366,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Trinity Industries in the 4th quarter valued at about $1,090,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Analyst Ratings Changes

Separately, Susquehanna dropped their price target on Trinity Industries from $32.00 to $30.00 and set a "positive" rating on the stock in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

Insider Activity at Trinity Industries

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of Trinity Industries stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total value of $273,868.00. Following the transaction, the chief financial officer now owns 233,704 shares in the company, valued at $6,543,712. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Trinity Industries Trading Up 1.2 %

Trinity Industries stock traded up $0.31 during trading on Tuesday, hitting $26.74. The company had a trading volume of 1,977,849 shares, compared to its average volume of 490,242. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 21.24 and a beta of 1.39. The company's 50 day simple moving average is $26.35 and its 200-day simple moving average is $25.25. Trinity Industries, Inc. has a 1-year low of $20.04 and a 1-year high of $28.86. The company has a current ratio of 1.91, a quick ratio of 0.78 and a debt-to-equity ratio of 4.51.

Trinity Industries (NYSE:TRN - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The transportation company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.16. Trinity Industries had a net margin of 3.55% and a return on equity of 9.29%. The company had revenue of $797.90 million during the quarter, compared to analyst estimates of $749.25 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business's quarterly revenue was up 35.0% compared to the same quarter last year. As a group, analysts expect that Trinity Industries, Inc. will post 1.46 EPS for the current fiscal year.

Trinity Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 12th. Trinity Industries's payout ratio is 88.89%.

Trinity Industries 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.