California State Teachers Retirement System lessened its stake in shares of Triton International Limited (NYSE:TRTN) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,587 shares of the company’s stock after selling 7,413 shares during the quarter. California State Teachers Retirement System’s holdings in Triton International were worth $2,316,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. American International Group Inc. boosted its stake in Triton International by 8.1% during the third quarter. American International Group Inc. now owns 29,130 shares of the company’s stock worth $969,000 after buying an additional 2,178 shares during the period. Systematic Financial Management LP boosted its stake in Triton International by 557.1% during the third quarter. Systematic Financial Management LP now owns 356,904 shares of the company’s stock worth $11,878,000 after buying an additional 302,589 shares during the period. Ameriprise Financial Inc. boosted its stake in Triton International by 10.1% during the third quarter. Ameriprise Financial Inc. now owns 881,693 shares of the company’s stock worth $29,343,000 after buying an additional 80,998 shares during the period. 361 Capital LLC purchased a new position in Triton International during the third quarter worth about $2,167,000. Finally, SG Americas Securities LLC purchased a new position in Triton International during the third quarter worth about $289,000. 63.28% of the stock is owned by institutional investors.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of Triton International from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub lowered shares of Triton International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Wells Fargo & Co increased their target price on shares of Triton International from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised shares of Triton International from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, November 14th. Finally, SunTrust Banks increased their target price on shares of Triton International from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Triton International currently has an average rating of “Buy” and an average target price of $44.00.
In related news, VP Michelle Gallagher sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the sale, the vice president now owns 23,158 shares of the company’s stock, valued at $926,320. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Hanau sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $40.31, for a total transaction of $403,100.00. Following the completion of the sale, the director now directly owns 31,580 shares in the company, valued at approximately $1,272,989.80. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $500,370. Insiders own 1.50% of the company’s stock.
Triton International Limited (TRTN) opened at $41.85 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 3.34. Triton International Limited has a 12 month low of $18.47 and a 12 month high of $43.85. The company has a market cap of $3,376.75, a P/E ratio of 19.47, a PEG ratio of 1.11 and a beta of 2.71.
Triton International (NYSE:TRTN) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.07. Triton International had a net margin of 14.44% and a return on equity of 8.50%. The business had revenue of $302.10 million during the quarter, compared to analyst estimates of $301.71 million. The company’s revenue was up 7.2% on a year-over-year basis. sell-side analysts expect that Triton International Limited will post 2.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Thursday, November 30th. Triton International’s payout ratio is 83.72%.
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Triton International Profile
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various intermodal containers and chassis 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 containers, refrigerated containers, special containers, tank containers, and chassis, as well as manages containers owned by third parties.
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