TRINITY INDUSTRIES INC
In the published model solve dated 2026-Q2, anchored at $32.44, TRINITY INDUSTRIES INC (TRN) is priced for -4.8% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Trinity pairs a railcar factory with a 97.3%-utilized lease fleet, and the lease side now sets the tone: the 10-K notes that ⟦"orders in the Rail Products Group's backlog from the Leasing Group are fully supported by lease commitments"⟧, turning cyclical manufacturing into contracted revenue. [Source: Q1 2026 earnings call, April 2026] • The quality question is the earnings mix: 2026 guidance of $2.20 to $2.40 per share leans on $160 to $180 million of expected lease-portfolio-sale gains, whil
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315 institutional managers reported holding TRN in 13F filings for the quarter ended 2026-03-31. Together they hold about 87% of the company; the top 10 hold 59%. 51 opened new positions that quarter. Held by BlackRock, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 5.0M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (6.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TRN has cut its share count 22.5% over the past five years, spending $655.90M on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 15 years straight; the current rate is $1.21 a share annually. Cash returned over the past three years: $259.40M in dividends and $100.10M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at TRN over the trailing three years. Absence is a fact about the company, not a signal. 10 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TRN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-03 | -8.7% | +16.8% |
| 2023-08-02 | +2.5% | -20.9% |
| 2023-11-03 | +15.8% | +9.3% |
| 2024-05-02 | +15.6% | -2.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TRN's latest 8-K filings: 2026-07-30 (items 2.02, 7.01, 9.01); 2026-06-16 (items 1.01, 1.02, 2.03, 9.01); 2026-05-21 (items 5.07, 9.01); 2026-04-30 (items 2.02, 7.01, 9.01); 2026-04-21 (items 2.03, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.