Allspring Global Investments Holdings LLC reduced its stake in shares of Trinity Industries, Inc. (NYSE:TRN – Free Report) by 40.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,467 shares of the transportation company’s stock after selling 2,360 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trinity Industries were worth $89,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in TRN. Louisiana State Employees Retirement System raised its stake in shares of Trinity Industries by 12.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 42,600 shares of the transportation company’s stock valued at $1,095,000 after acquiring an additional 4,700 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Trinity Industries by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 344,895 shares of the transportation company’s stock worth $8,402,000 after buying an additional 43,347 shares during the period. Twelve Points Wealth Management LLC grew its stake in Trinity Industries by 72.0% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 28,738 shares of the transportation company’s stock valued at $739,000 after buying an additional 12,030 shares during the last quarter. Barclays PLC raised its holdings in Trinity Industries by 7.3% in the 1st quarter. Barclays PLC now owns 42,483 shares of the transportation company’s stock worth $1,034,000 after acquiring an additional 2,901 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in Trinity Industries in the 1st quarter worth $1,504,000. Institutional investors and hedge funds own 82.23% of the company’s stock.
Insider Activity at Trinity Industries
In other news, CFO Eric R. Marchetto sold 11,765 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $25.00, for a total value of $294,125.00. Following the sale, the chief financial officer now owns 262,265 shares in the company, valued at approximately $6,556,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trinity Industries news, EVP Gregory B. Mitchell sold 12,536 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $23.17, for a total value of $290,459.12. Following the completion of the sale, the executive vice president now owns 127,714 shares in the company, valued at approximately $2,959,133.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric R. Marchetto sold 11,765 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $25.00, for a total transaction of $294,125.00. Following the sale, the chief financial officer now directly owns 262,265 shares in the company, valued at $6,556,625. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Trinity Industries Price Performance
Trinity Industries Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, October 12th. This is an increase from Trinity Industries’s previous quarterly dividend of $0.01. Trinity Industries’s dividend payout ratio (DPR) is 116.86%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on TRN shares. Stephens lowered their price target on Trinity Industries from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, November 3rd. Wells Fargo & Company increased their price objective on Trinity Industries from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. StockNews.com initiated coverage on shares of Trinity Industries in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Susquehanna raised shares of Trinity Industries from a “neutral” rating to a “positive” rating and increased their price target for the company from $29.00 to $32.00 in a report on Monday, October 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.67.
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.
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