California State Teachers Retirement System lessened its holdings in shares of Textainer Group Holdings Limited (NYSE:TGH) by 10.0% in the 3rd quarter, Holdings Channel reports. The firm owned 43,252 shares of the transportation company’s stock after selling 4,810 shares during the quarter. California State Teachers Retirement System’s holdings in Textainer Group were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in shares of Textainer Group by 7.9% during the third quarter. Wells Fargo & Company MN now owns 120,275 shares of the transportation company’s stock worth $2,063,000 after purchasing an additional 8,805 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Textainer Group during the third quarter worth $7,835,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Textainer Group during the third quarter worth $190,000. Russell Investments Group Ltd. raised its holdings in shares of Textainer Group by 89.8% during the third quarter. Russell Investments Group Ltd. now owns 83,881 shares of the transportation company’s stock worth $1,438,000 after purchasing an additional 39,689 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Textainer Group by 15.8% during the third quarter. GHP Investment Advisors Inc. now owns 27,399 shares of the transportation company’s stock worth $470,000 after purchasing an additional 3,740 shares during the last quarter. 24.59% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on TGH shares. Wells Fargo & Co raised their target price on shares of Textainer Group from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Textainer Group from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, October 20th. SunTrust Banks restated a “buy” rating and set a $25.00 price target on shares of Textainer Group in a research report on Friday, November 10th. Cowen raised their price target on shares of Textainer Group from $21.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $22.00 price target on shares of Textainer Group in a research report on Sunday, November 19th. Three 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’s stock. Textainer Group presently has a consensus rating of “Buy” and an average target price of $24.40.
Textainer Group (NYSE:TGH) last released its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.19. The company had revenue of $125.60 million for the quarter, compared to analyst estimates of $122.87 million. Textainer Group had a net margin of 0.38% and a negative return on equity of 0.44%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.92) earnings per share. equities analysts expect that Textainer Group Holdings Limited will post 0.34 EPS for the current year.
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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