First Trust Advisors LP reduced its position in shares of Triton International Ltd (NYSE:TRTN) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,426 shares of the company’s stock after selling 4,693 shares during the period. First Trust Advisors LP’s holdings in Triton International were worth $1,245,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in Triton International by 31.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 48,565 shares of the company’s stock worth $1,489,000 after buying an additional 11,643 shares in the last quarter. Wells Fargo & Company MN increased its position in Triton International by 14.6% in the second quarter. Wells Fargo & Company MN now owns 278,042 shares of the company’s stock worth $8,525,000 after buying an additional 35,379 shares in the last quarter. Wasatch Advisors Inc. purchased a new stake in Triton International in the second quarter worth about $558,000. Brookstone Capital Management purchased a new stake in Triton International in the second quarter worth about $463,000. Finally, Rhumbline Advisers increased its position in Triton International by 10.6% in the second quarter. Rhumbline Advisers now owns 51,633 shares of the company’s stock worth $1,583,000 after buying an additional 4,963 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on TRTN shares. Wells Fargo & Co cut Triton International from an “outperform” rating to a “market perform” rating and set a $35.00 price target for the company. in a research report on Friday, September 28th. Keefe, Bruyette & Woods upgraded Triton International from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 6th. Bank of America reduced their price target on Triton International from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Zacks Investment Research cut Triton International from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, ValuEngine upgraded Triton International from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Triton International presently has an average rating of “Buy” and an average target price of $40.17.
NYSE TRTN opened at $32.84 on Friday. The stock has a market capitalization of $2.67 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.76 and a beta of 2.84. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.38 and a quick ratio of 1.38. Triton International Ltd has a twelve month low of $27.76 and a twelve month high of $42.41.
Triton International (NYSE:TRTN) last released its quarterly earnings data on Friday, November 2nd. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.44% and a net margin of 37.41%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. Equities research analysts predict that Triton International Ltd will post 4.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, November 30th. Triton International’s dividend payout ratio (DPR) is 74.82%.
In other Triton International news, Director Global Ltd Bharti acquired 337,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $34.78 per share, with a total value of $11,720,860.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.
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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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