Renaissance Technologies LLC trimmed its position in Triton International Ltd (NYSE:TRTN) by 54.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,400 shares of the company’s stock after selling 239,000 shares during the period. Renaissance Technologies LLC owned approximately 0.24% of Triton International worth $6,022,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TRTN. Mount Yale Investment Advisors LLC acquired a new stake in shares of Triton International during the first quarter worth $140,000. Bayesian Capital Management LP acquired a new stake in shares of Triton International during the first quarter worth $211,000. Amalgamated Bank acquired a new stake in shares of Triton International during the second quarter worth $218,000. SG Americas Securities LLC lifted its stake in shares of Triton International by 31.9% during the second quarter. SG Americas Securities LLC now owns 7,109 shares of the company’s stock worth $218,000 after buying an additional 1,720 shares during the period. Finally, Atria Investments LLC acquired a new stake in shares of Triton International during the second quarter worth $223,000. Institutional investors own 65.19% of the company’s stock.
In other Triton International news, Director Pincus (Ganymede-Ii) P. Warburg sold 1,850,000 shares of Triton International stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $34.78, for a total value of $64,343,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michelle Gallagher sold 2,900 shares of Triton International stock in a transaction on Monday, August 20th. The shares were sold at an average price of $38.01, for a total transaction of $110,229.00. Following the completion of the transaction, the vice president now directly owns 13,209 shares of the company’s stock, valued at approximately $502,074.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,859,000 shares of company stock valued at $64,672,429. 1.40% of the stock is currently owned by corporate insiders.
Shares of Triton International stock opened at $30.46 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.37 and a quick ratio of 1.37. Triton International Ltd has a 1 year low of $27.76 and a 1 year high of $43.85. The firm has a market cap of $2.69 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.76 and a beta of 3.11.
Triton International (NYSE:TRTN) last issued its earnings results on Friday, August 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.04. Triton International had a net margin of 35.39% and a return on equity of 14.30%. The firm had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $330.49 million. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts anticipate that Triton International Ltd will post 4.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $2.08 annualized dividend and a dividend yield of 6.83%. Triton International’s dividend payout ratio (DPR) is presently 74.82%.
Several research firms have recently commented on TRTN. Bank of America lowered their price objective on shares of Triton International from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research downgraded shares of Triton International from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. ValuEngine cut shares of Triton International from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Wells Fargo & Co cut shares of Triton International from an “outperform” rating to a “market perform” rating and set a $35.00 target price for the company. in a report on Friday, September 28th. Finally, Keefe, Bruyette & Woods raised shares of Triton International from a “market perform” rating to an “outperform” rating in a report on Thursday, September 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Triton International has a consensus rating of “Buy” and an average price target of $41.29.
Triton International Profile
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry freight, refrigerated, special, and tank containers; and chassis used for the transportation of containers, as well as manages containers owned by third parties.
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