Raymond James & Associates Sells 162,916 Shares of Trinity Industries, Inc. (NYSE:TRN)

Raymond James & Associates trimmed its holdings in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 35.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,292 shares of the transportation company's stock after selling 162,916 shares during the quarter. Raymond James & Associates owned about 0.37% of Trinity Industries worth $10,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRN. UniSuper Management Pty Ltd bought a new stake in Trinity Industries during the first quarter worth about $544,000. Marshall Wace LLP bought a new stake in Trinity Industries during the second quarter worth about $1,049,000. State of New Jersey Common Pension Fund D bought a new stake in Trinity Industries during the second quarter worth about $1,824,000. GAMMA Investing LLC lifted its stake in Trinity Industries by 85.6% during the third quarter. GAMMA Investing LLC now owns 1,017 shares of the transportation company's stock worth $35,000 after purchasing an additional 469 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Trinity Industries by 136.2% during the second quarter. American Century Companies Inc. now owns 1,047,663 shares of the transportation company's stock worth $31,346,000 after purchasing an additional 604,050 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Trinity Industries Stock Down 1.4 %

Shares of TRN stock traded down $0.51 during midday trading on Tuesday, reaching $35.64. 315,785 shares of the stock were exchanged, compared to its average volume of 547,046. Trinity Industries, Inc. has a 1 year low of $20.35 and a 1 year high of $37.04. The company's 50 day moving average is $33.57 and its two-hundred day moving average is $31.45. The company has a current ratio of 1.91, a quick ratio of 0.98 and a debt-to-equity ratio of 4.39. The firm has a market cap of $2.92 billion, a PE ratio of 23.92 and a beta of 1.39.

Trinity Industries (NYSE:TRN - Get Free Report) last posted its earnings results on Thursday, August 1st. The transportation company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.32. Trinity Industries had a return on equity of 13.66% and a net margin of 4.98%. The firm had revenue of $841.40 million for the quarter, compared to the consensus estimate of $738.00 million. During the same quarter in the prior year, the business earned $0.23 EPS. The business's revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts predict that Trinity Industries, Inc. will post 1.65 EPS for the current year.

Trinity Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.14%. Trinity Industries's payout ratio is currently 75.17%.

Analyst Ratings Changes

TRN has been the subject of a number of recent analyst reports. StockNews.com raised Trinity Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Susquehanna lowered Trinity Industries from a "positive" rating to a "neutral" rating and upped their price target for the company from $34.00 to $35.00 in a research report on Monday, October 21st.

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.