Denali Advisors LLC Raises Holdings in Triton International Ltd (NYSE:TRTN)
Denali Advisors LLC grew its position in shares of Triton International Ltd (NYSE:TRTN) by 128.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,600 shares of the company’s stock after buying an additional 35,700 shares during the period. Denali Advisors LLC owned 0.09% of Triton International worth $2,152,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Triton International by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,510 shares of the company’s stock valued at $321,000 after buying an additional 460 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Triton International by 116.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,082 shares of the company’s stock valued at $35,000 after buying an additional 582 shares during the last quarter. LPL Financial LLC lifted its position in shares of Triton International by 1.7% during the 2nd quarter. LPL Financial LLC now owns 47,402 shares of the company’s stock valued at $1,553,000 after buying an additional 792 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of Triton International during the 2nd quarter valued at $32,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Triton International by 8.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,650 shares of the company’s stock valued at $447,000 after buying an additional 1,045 shares during the last quarter. 59.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on TRTN shares. TheStreet raised Triton International from a “d-” rating to a “c” rating in a research report on Friday, July 12th. ValuEngine lowered Triton International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Compass Point set a $38.00 price objective on Triton International and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, CJS Securities assumed coverage on Triton International in a research note on Wednesday, September 18th. They set a “market perform” rating and a $42.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Triton International presently has an average rating of “Hold” and an average target price of $37.00.
Triton International (NYSE:TRTN) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Triton International had a return on equity of 16.56% and a net margin of 24.70%. The company had revenue of $338.60 million for the quarter, compared to analyst estimates of $345.61 million. During the same period in the previous year, the company posted $1.10 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts forecast that Triton International Ltd will post 4.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.25%. Triton International’s payout ratio is 46.02%.
In related news, VP Michelle Gallagher sold 6,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $34.11, for a total transaction of $221,715.00. Following the sale, the vice president now directly owns 6,240 shares in the company, valued at approximately $212,846.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
About Triton International
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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