Schwab Charles Investment Management Inc. lifted its stake in shares of Triton International Ltd (NYSE:TRTN) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 371,471 shares of the company’s stock after acquiring an additional 40,644 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.46% of Triton International worth $11,390,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its stake in Triton International by 144.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,525 shares of the company’s stock valued at $138,000 after purchasing an additional 2,675 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in Triton International during the 1st quarter valued at approximately $140,000. SG Americas Securities LLC bought a new stake in Triton International during the 1st quarter valued at approximately $165,000. Victory Capital Management Inc. bought a new stake in Triton International during the 1st quarter valued at approximately $165,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Triton International during the 1st quarter valued at approximately $171,000. Institutional investors own 65.19% of the company’s stock.
In other news, VP Michelle Gallagher sold 2,900 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $38.01, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pincus (Ganymede-Ii) P. Warburg sold 1,850,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $34.78, for a total value of $64,343,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,859,000 shares of company stock valued at $64,672,429 in the last quarter. Corporate insiders own 1.40% of the company’s stock.
Shares of TRTN stock traded up $0.48 during mid-day trading on Friday, reaching $30.46. The stock had a trading volume of 481,655 shares, compared to its average volume of 506,055. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 3.12. Triton International Ltd has a one year low of $27.76 and a one year high of $43.85. The company has a market capitalization of $2.69 billion, a P/E ratio of 10.96, a P/E/G ratio of 0.76 and a beta of 3.11.
Triton International (NYSE:TRTN) last announced its quarterly earnings data on Friday, August 3rd. The company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.04. Triton International had a return on equity of 14.30% and a net margin of 35.39%. The company had revenue of $329.80 million during the quarter, compared to the consensus estimate of $330.49 million. During the same quarter last year, the company earned $0.63 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts predict that Triton International Ltd will post 4.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Tuesday, September 4th were given a $0.52 dividend. The ex-dividend date was Friday, August 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.83%. Triton International’s dividend payout ratio is currently 74.82%.
Several analysts recently weighed in on TRTN shares. Compass Point restated a “buy” rating and set a $42.00 target price on shares of Triton International in a research note on Friday, August 3rd. ValuEngine downgraded Triton International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded Triton International from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, October 4th. Wells Fargo & Co downgraded Triton International from an “outperform” rating to a “market perform” rating and set a $35.00 target price for the company. in a research note on Friday, September 28th. Finally, Keefe, Bruyette & Woods upgraded Triton International from a “market perform” rating to an “outperform” rating in a research note on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price 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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