Ameriprise Financial Inc. cut its holdings in shares of Textainer Group Holdings Limited (NYSE:TGH) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 478,356 shares of the transportation company’s stock after selling 105,560 shares during the period. Ameriprise Financial Inc. owned about 0.84% of Textainer Group worth $8,204,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TGH. Teachers Advisors LLC lifted its stake in shares of Textainer Group by 2.7% in the 2nd quarter. Teachers Advisors LLC now owns 49,019 shares of the transportation company’s stock valued at $711,000 after acquiring an additional 1,296 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Textainer Group by 6.0% in the 2nd quarter. Alliancebernstein L.P. now owns 22,900 shares of the transportation company’s stock valued at $332,000 after acquiring an additional 1,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Textainer Group by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 762,629 shares of the transportation company’s stock valued at $11,058,000 after acquiring an additional 2,492 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Textainer Group by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,734 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 3,185 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Textainer Group by 7.6% in the 2nd quarter. California State Teachers Retirement System now owns 48,062 shares of the transportation company’s stock valued at $697,000 after acquiring an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 24.48% of the company’s stock.
A number of research analysts have recently commented on the company. Cowen reiterated a “buy” rating and issued a $21.00 price target on shares of Textainer Group in a research note on Tuesday, September 19th. Zacks Investment Research cut Textainer Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Wells Fargo & Co increased their price target on Textainer Group from $19.00 to $22.00 and gave the company a “market perform” rating in a research note on Tuesday, November 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $22.00 price target on shares of Textainer Group in a research note on Sunday, November 19th. Finally, SunTrust Banks restated a “buy” rating and issued a $25.00 price objective on shares of Textainer Group in a report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Textainer Group presently has an average rating of “Buy” and an average target price of $24.40.
Shares of Textainer Group Holdings Limited (NYSE:TGH) opened at $21.85 on Friday. The firm has a market capitalization of $1,240.00, a price-to-earnings ratio of 728.33, a P/E/G ratio of 5.68 and a beta of 2.47. Textainer Group Holdings Limited has a 1-year low of $7.40 and a 1-year high of $24.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.19.
Textainer Group (NYSE:TGH) last posted its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.19. The business had revenue of $125.60 million during the quarter, compared to the consensus estimate of $122.87 million. Textainer Group had a negative return on equity of 0.44% and a net margin of 0.38%. Textainer Group’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.92) earnings per share. equities analysts anticipate that Textainer Group Holdings Limited will post 0.33 EPS for the current fiscal year.
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About Textainer Group
Textainer Group Holdings Limited is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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