Corebridge Financial Inc. Sells 3,411 Shares of Trinity Industries, Inc. (NYSE:TRN)

Corebridge Financial Inc. decreased its holdings in Trinity Industries, Inc. (NYSE:TRN) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,532 shares of the transportation company’s stock after selling 3,411 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Trinity Industries worth $1,528,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Wellington Shields Capital Management LLC bought a new stake in Trinity Industries in the fourth quarter valued at about $35,000. Smartleaf Asset Management LLC grew its stake in shares of Trinity Industries by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,532 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 713 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Trinity Industries in the 4th quarter worth approximately $54,000. Jones Financial Companies Lllp lifted its position in shares of Trinity Industries by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,997 shares of the transportation company’s stock worth $105,000 after buying an additional 398 shares during the period. Finally, KBC Group NV grew its position in Trinity Industries by 71.6% in the fourth quarter. KBC Group NV now owns 3,952 shares of the transportation company’s stock valued at $139,000 after acquiring an additional 1,649 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Susquehanna lifted their price objective on Trinity Industries from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, March 3rd.

Insider Transactions at Trinity Industries

In related news, EVP Gregory B. Mitchell sold 9,286 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $31.02, for a total value of $288,051.72. Following the completion of the transaction, the executive vice president now owns 111,879 shares in the company, valued at $3,470,486.58. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Trinity Industries Stock Up 2.5 %

Shares of TRN opened at $28.82 on Thursday. The company has a market capitalization of $2.36 billion, a P/E ratio of 17.57 and a beta of 1.48. Trinity Industries, Inc. has a one year low of $25.89 and a one year high of $39.83. The business’s 50 day simple moving average is $32.53 and its 200-day simple moving average is $34.74. The company has a debt-to-equity ratio of 4.35, a current ratio of 1.80 and a quick ratio of 1.08.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Thursday, February 20th. The transportation company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Trinity Industries had a return on equity of 11.78% and a net margin of 4.49%. The company had revenue of $629.40 million for the quarter, compared to analyst estimates of $589.30 million. As a group, sell-side analysts predict that Trinity Industries, Inc. will post 1.65 EPS for the current fiscal year.

Trinity Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, April 15th. Trinity Industries’s dividend payout ratio is presently 73.17%.

Trinity Industries Company Profile

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.