Russell Investments Group Ltd. grew its stake in shares of Textainer Group Holdings Limited (NYSE:TGH) by 89.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,881 shares of the transportation company’s stock after purchasing an additional 39,689 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of Textainer Group worth $1,438,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in TGH. Voya Investment Management LLC bought a new stake in Textainer Group during the second quarter worth about $170,000. Tudor Investment Corp ET AL purchased a new position in Textainer Group in the second quarter worth about $202,000. Meridian Investment Counsel Inc. raised its holdings in Textainer Group by 26.7% in the second quarter. Meridian Investment Counsel Inc. now owns 16,600 shares of the transportation company’s stock worth $241,000 after buying an additional 3,500 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Textainer Group by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,734 shares of the transportation company’s stock worth $329,000 after buying an additional 3,185 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Textainer Group by 6.0% in the second quarter. Alliancebernstein L.P. now owns 22,900 shares of the transportation company’s stock worth $332,000 after buying an additional 1,300 shares during the last quarter. 24.48% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on TGH. Cowen reissued a “buy” rating and set a $21.00 price objective on shares of Textainer Group in a report on Tuesday, September 19th. Zacks Investment Research cut shares of Textainer Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Wells Fargo & Co boosted their price objective on shares of Textainer Group from $19.00 to $22.00 and gave the company a “market perform” rating in a report on Tuesday, November 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $22.00 price objective on shares of Textainer Group in a report on Sunday, November 19th. Finally, SunTrust Banks reissued a “buy” rating and set a $25.00 price objective on shares of Textainer Group in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Textainer Group presently has an average rating of “Buy” and a consensus price target of $24.40.
Textainer Group (NYSE:TGH) last announced its earnings results on Thursday, November 9th. The transportation company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.19. Textainer Group had a net margin of 0.38% and a negative return on equity of 0.44%. The business had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $122.87 million. During the same period in the prior year, the company earned ($0.92) earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. equities research analysts predict that Textainer Group Holdings Limited will post 0.33 EPS for the current year.
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Textainer Group Company Profile
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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