Trinity Industries (NYSE:TRN) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Trinity Industries, Inc. (NYSE:TRN) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $26.02, but opened at $27.19. Trinity Industries shares last traded at $28.41, with a volume of 146,252 shares.

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

Trinity Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, April 12th. Trinity Industries’s payout ratio is 75.17%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen boosted their target price on Trinity Industries from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna upped their price objective on Trinity Industries from $30.00 to $34.00 and gave the company a “positive” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Trinity Industries has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Insider Buying and Selling at Trinity Industries

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $28.00, for a total transaction 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 document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Trinity Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in Trinity Industries by 61.8% in the third quarter. Huntington National Bank now owns 1,382 shares of the transportation company’s stock worth $34,000 after buying an additional 528 shares during the period. Twelve Points Wealth Management LLC lifted its holdings 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 buying an additional 528 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Trinity Industries by 10.5% in 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 during the period. TFO Wealth Partners LLC increased its stake in shares of Trinity Industries by 22,360.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,123 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 1,118 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in shares of Trinity Industries during the fourth quarter valued at approximately $32,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Trinity Industries Stock Up 1.7 %

The stock’s 50 day simple moving average is $26.55 and its two-hundred day simple moving average is $25.52. The firm has a market cap of $2.46 billion, a P/E ratio of 20.17 and a beta of 1.39. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.88 and a quick ratio of 0.78.

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.