Trinity Industries (NYSE:TRN) Reaches New 52-Week High on Better-Than-Expected Earnings

Trinity Industries, Inc. (NYSE:TRN) hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $30.46 and last traded at $29.89, with a volume of 96770 shares. The stock had previously closed at $29.55.

The transportation company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Trinity Industries had a return on equity of 10.93% and a net margin of 3.98%. The firm had revenue of $809.60 million for the quarter, compared to analyst estimates of $750.97 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Trinity Industries’s quarterly revenue was up 26.2% on a year-over-year basis.

Trinity Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Friday, April 12th. Trinity Industries’s dividend payout ratio is currently 75.17%.

Analysts Set New Price Targets

Several research analysts have weighed in on TRN shares. Susquehanna upped their price objective on shares of Trinity Industries from $30.00 to $34.00 and gave the company a “positive” rating in a research note on Thursday. TD Cowen upped their price target on shares of Trinity Industries from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Trinity Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Buying and Selling

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of Trinity Industries stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $28.00, for a total value of $273,868.00. Following the completion of the sale, the chief financial officer now directly owns 233,704 shares in the company, valued at $6,543,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Trinity Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank grew its holdings in shares of Trinity Industries by 61.8% during the 3rd quarter. Huntington National Bank now owns 1,382 shares of the transportation company’s stock worth $34,000 after purchasing an additional 528 shares in the last quarter. Twelve Points Wealth Management LLC lifted its position in Trinity Industries by 1.7% in the fourth quarter. Twelve Points Wealth Management LLC now owns 32,051 shares of the transportation company’s stock worth $852,000 after purchasing an additional 528 shares during the period. PNC Financial Services Group Inc. boosted its stake in Trinity Industries by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,008 shares of the transportation company’s stock worth $213,000 after buying an additional 764 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in Trinity Industries by 22,360.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,123 shares of the transportation company’s stock valued at $30,000 after buying an additional 1,118 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Trinity Industries in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Trinity Industries Stock Up 1.3 %

The company has a current ratio of 1.88, a quick ratio of 0.78 and a debt-to-equity ratio of 4.55. The business’s fifty day moving average price is $26.67 and its 200 day moving average price is $25.57. The company has a market capitalization of $2.49 billion, a P/E ratio of 20.43 and a beta of 1.39.

About Trinity Industries

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.