Principal Financial Group Inc. Reduces Position in Trinity Industries, Inc. (NYSE:TRN)

Principal Financial Group Inc. lowered its stake in Trinity Industries, Inc. (NYSE:TRN) by 3.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 390,434 shares of the transportation company’s stock after selling 16,017 shares during the period. Principal Financial Group Inc.’s holdings in Trinity Industries were worth $13,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new position in shares of Trinity Industries in the 1st quarter valued at $544,000. Marshall Wace LLP purchased a new stake in Trinity Industries during the 2nd quarter valued at about $1,049,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Trinity Industries in the second quarter valued at about $1,824,000. GAMMA Investing LLC raised its stake in shares of Trinity Industries by 85.6% in the third quarter. GAMMA Investing LLC now owns 1,017 shares of the transportation company’s stock worth $35,000 after purchasing an additional 469 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Trinity Industries by 180.7% during the second quarter. Millennium Management LLC now owns 823,040 shares of the transportation company’s stock worth $24,625,000 after purchasing an additional 529,857 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRN. Susquehanna lowered Trinity Industries from a “positive” rating to a “neutral” rating and upped their target price for the company from $34.00 to $35.00 in a research report on Monday, October 21st. StockNews.com downgraded shares of Trinity Industries from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Trinity Industries Stock Performance

NYSE TRN opened at $37.22 on Friday. The firm has a market capitalization of $3.06 billion, a P/E ratio of 18.16 and a beta of 1.39. The stock has a 50-day simple moving average of $34.62 and a two-hundred day simple moving average of $32.34. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.08 and a current ratio of 2.00. Trinity Industries, Inc. has a fifty-two week low of $23.40 and a fifty-two week high of $38.69.

Trinity Industries (NYSE:TRN) last posted its earnings results on Thursday, October 31st. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. The firm had revenue of $798.80 million for the quarter, compared to analyst estimates of $696.00 million. During the same period last year, the company earned $0.26 earnings per share. Trinity Industries’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that Trinity Industries, Inc. will post 1.75 earnings per share for the current year.

Trinity Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Tuesday, October 15th. Trinity Industries’s dividend payout ratio is currently 54.63%.

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.