Water Island Capital LLC lowered its holdings in shares of Trinity Industries Inc (NYSE:TRN) by 57.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,767 shares of the transportation company’s stock after selling 245,901 shares during the period. Water Island Capital LLC’s holdings in Trinity Industries were worth $3,722,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Trinity Industries by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,926,301 shares of the transportation company’s stock valued at $473,620,000 after acquiring an additional 64,718 shares in the last quarter. Vanguard Group Inc grew its position in shares of Trinity Industries by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 12,926,301 shares of the transportation company’s stock valued at $473,620,000 after buying an additional 64,718 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Trinity Industries by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,159,757 shares of the transportation company’s stock valued at $79,133,000 after buying an additional 7,863 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Trinity Industries by 12.3% during the 3rd quarter. Jennison Associates LLC now owns 1,693,533 shares of the transportation company’s stock valued at $62,051,000 after purchasing an additional 184,920 shares in the last quarter. Finally, Locust Wood Capital Advisers LLC bought a new stake in shares of Trinity Industries during the 4th quarter valued at about $18,445,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.
Shares of TRN stock traded up $0.54 during mid-day trading on Tuesday, reaching $24.68. 479,840 shares of the company’s stock traded hands, compared to its average volume of 1,505,829. Trinity Industries Inc has a 12 month low of $18.99 and a 12 month high of $39.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.50 and a quick ratio of 1.38. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.88 and a beta of 2.23.
In other news, Director Brandon B. Boze acquired 143,576 shares of Trinity Industries stock in a transaction that occurred on Tuesday, November 20th. The shares were bought at an average cost of $21.99 per share, with a total value of $3,157,236.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brandon B. Boze acquired 280,506 shares of Trinity Industries stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average cost of $21.91 per share, for a total transaction of $6,145,886.46. The disclosure for this purchase can be found here. Insiders have acquired a total of 613,004 shares of company stock valued at $13,444,996 in the last three months. Insiders own 2.20% of the company’s stock.
A number of research firms recently weighed in on TRN. Zacks Investment Research raised Trinity Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, January 28th. ValuEngine lowered Trinity Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Cowen reaffirmed a “buy” rating and issued a $30.00 price target on shares of Trinity Industries in a report on Monday, December 10th. Vertical Group downgraded Trinity Industries from a “hold” rating to a “sell” rating and set a $12.00 price objective on the stock. in a research report on Tuesday, December 4th. Finally, Seaport Global Securities upgraded Trinity Industries from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. Trinity Industries has an average rating of “Hold” and an average target price of $32.30.
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About Trinity Industries
Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.
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