King Luther Capital Management Corp lowered its position in shares of Triton International Ltd (NYSE:TRTN) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,960 shares of the company’s stock after selling 5,825 shares during the quarter. King Luther Capital Management Corp owned approximately 0.16% of Triton International worth $4,324,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in Triton International by 31.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 48,565 shares of the company’s stock valued at $1,489,000 after buying an additional 11,643 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Triton International by 14.6% in the 2nd quarter. Wells Fargo & Company MN now owns 278,042 shares of the company’s stock valued at $8,525,000 after purchasing an additional 35,379 shares in the last quarter. Wasatch Advisors Inc. bought a new stake in shares of Triton International in the 2nd quarter valued at about $558,000. Brookstone Capital Management bought a new stake in shares of Triton International in the 2nd quarter valued at about $463,000. Finally, Rhumbline Advisers raised its holdings in shares of Triton International by 10.6% in the 2nd quarter. Rhumbline Advisers now owns 51,633 shares of the company’s stock valued at $1,583,000 after purchasing an additional 4,963 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.
NYSE:TRTN opened at $32.84 on Friday. Triton International Ltd has a one year low of $27.76 and a one year high of $42.41. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $2.67 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.75 and a beta of 2.84.
Triton International (NYSE:TRTN) last posted its quarterly earnings data on Friday, November 2nd. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. The firm had revenue of $350.08 million during the quarter, compared to analyst estimates of $349.39 million. Triton International had a net margin of 37.41% and a return on equity of 14.44%. Triton International’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. Research analysts forecast that Triton International Ltd will post 4.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 30th. This represents a $2.08 annualized dividend and a dividend yield of 6.33%. Triton International’s dividend payout ratio (DPR) is presently 74.82%.
Several research firms have recently commented on TRTN. ValuEngine upgraded shares of Triton International from a “strong sell” rating to a “sell” rating in a report on Friday, August 10th. Zacks Investment Research lowered shares of Triton International from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Keefe, Bruyette & Woods upgraded shares of Triton International from a “market perform” rating to an “outperform” rating in a report on Thursday, September 6th. Wells Fargo & Co lowered shares of Triton International from an “outperform” rating to a “market perform” rating and set a $35.00 price target for the company. in a report on Friday, September 28th. Finally, Bank of America reduced their price target on shares of Triton International from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $40.17.
In other news, Director Global Ltd Bharti acquired 337,000 shares of Triton International stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average price of $34.78 per share, for a total transaction of $11,720,860.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.
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Triton International Company 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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