Principal Financial Group Inc. Sells 30,343 Shares of Trinity Industries, Inc. (NYSE:TRN)

Principal Financial Group Inc. decreased its stake in shares of Trinity Industries, Inc. (NYSE:TRN) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,038 shares of the transportation company’s stock after selling 30,343 shares during the period. Principal Financial Group Inc. owned approximately 0.57% of Trinity Industries worth $11,853,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Trinity Industries by 9.8% during the third quarter. Vanguard Group Inc. now owns 9,515,622 shares of the transportation company’s stock worth $203,159,000 after acquiring an additional 849,142 shares in the last quarter. Jennison Associates LLC boosted its holdings in Trinity Industries by 2.2% during the second quarter. Jennison Associates LLC now owns 4,573,765 shares of the transportation company’s stock worth $117,591,000 after purchasing an additional 96,434 shares during the last quarter. State Street Corp boosted its holdings in Trinity Industries by 2.2% during the first quarter. State Street Corp now owns 2,967,250 shares of the transportation company’s stock worth $72,282,000 after purchasing an additional 64,619 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Trinity Industries by 4.7% during the first quarter. Geode Capital Management LLC now owns 1,552,652 shares of the transportation company’s stock worth $37,823,000 after purchasing an additional 69,669 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Trinity Industries by 6.2% during the third quarter. Bank of New York Mellon Corp now owns 1,334,006 shares of the transportation company’s stock worth $28,482,000 after purchasing an additional 78,368 shares during the last quarter. Institutional investors own 82.23% of the company’s stock.

Trinity Industries Price Performance

Shares of TRN opened at $24.92 on Friday. Trinity Industries, Inc. has a fifty-two week low of $20.04 and a fifty-two week high of $31.68. The firm has a market capitalization of $2.04 billion, a PE ratio of 28.00 and a beta of 1.37. The company’s 50-day moving average is $23.05 and its 200-day moving average is $23.68. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.83 and a quick ratio of 0.79.

Trinity Industries Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.17%. This is a positive change from Trinity Industries’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is currently 116.86%.

Insider Buying and Selling

In related 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 transaction of $290,459.12. Following the transaction, the executive vice president now directly owns 127,714 shares of the company’s stock, valued at $2,959,133.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the executive vice president now directly owns 127,714 shares of the company’s stock, valued at approximately $2,959,133.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Eric R. Marchetto sold 11,765 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $25.00, for a total transaction of $294,125.00. Following the completion of the transaction, 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.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRN. StockNews.com began coverage on shares of Trinity Industries in a report on Thursday, October 5th. They set a “hold” rating for the company. Stephens reduced their target price on shares of Trinity Industries from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. Susquehanna upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating and increased their target price for the stock from $29.00 to $32.00 in a report on Monday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of Trinity Industries from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.