Wedbush Securities Inc. trimmed its position in shares of Triton International Ltd (NYSE:TRTN) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,907 shares of the company’s stock after selling 832 shares during the period. Wedbush Securities Inc. owned 0.05% of Triton International worth $1,283,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in Triton International by 9.9% during the second quarter. BlackRock Inc. now owns 3,860,078 shares of the company’s stock valued at $126,456,000 after acquiring an additional 348,177 shares in the last quarter. LSV Asset Management grew its stake in Triton International by 9.9% during the second quarter. LSV Asset Management now owns 1,538,203 shares of the company’s stock valued at $50,391,000 after acquiring an additional 138,400 shares in the last quarter. Northern Trust Corp grew its stake in Triton International by 19.4% during the second quarter. Northern Trust Corp now owns 772,467 shares of the company’s stock valued at $25,305,000 after acquiring an additional 125,773 shares in the last quarter. Kempen Capital Management N.V. grew its stake in Triton International by 3.8% during the second quarter. Kempen Capital Management N.V. now owns 606,160 shares of the company’s stock valued at $19,858,000 after acquiring an additional 22,230 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Triton International by 2.5% during the first quarter. Clearbridge Investments LLC now owns 537,757 shares of the company’s stock valued at $16,724,000 after acquiring an additional 13,200 shares in the last quarter. Hedge funds and other institutional investors own 60.73% of the company’s stock.
TRTN has been the subject of a number of recent research reports. Compass Point cut shares of Triton International from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Friday, October 25th. CJS Securities initiated coverage on shares of Triton International in a research note on Wednesday, September 18th. They issued a “market perform” rating and a $42.00 price objective for the company. Zacks Investment Research cut shares of Triton International from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a research note on Monday, October 28th. Cowen dropped their price objective on shares of Triton International from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Finally, TheStreet raised shares of Triton International from a “c” rating to a “b-” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Triton International has a consensus rating of “Hold” and a consensus price target of $39.40.
Shares of TRTN stock traded down $0.08 during trading hours on Friday, reaching $37.72. 128,027 shares of the stock were exchanged, compared to its average volume of 425,205. Triton International Ltd has a 12-month low of $28.55 and a 12-month high of $38.46. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 3.36. The company’s 50-day moving average price is $35.19 and its 200-day moving average price is $32.79. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 0.81 and a beta of 2.30.
Triton International (NYSE:TRTN) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.16 EPS for the quarter, hitting analysts’ consensus estimates of $1.16. Triton International had a net margin of 24.34% and a return on equity of 16.69%. The firm had revenue of $336.70 million during the quarter, compared to analysts’ expectations of $337.74 million. During the same period in the previous year, the company earned $1.17 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Triton International Ltd will post 4.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 5.51%. Triton International’s payout ratio is 46.02%.
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, refrigerated, special, and tank containers; and chassis used for the transportation of intermodal containers, as well as provides container management services.
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