New York State Common Retirement Fund Reduces Position in Triton International Limited (TRTN)
New York State Common Retirement Fund lessened its stake in shares of Triton International Limited (NYSE:TRTN) by 47.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,200 shares of the company’s stock after selling 44,045 shares during the period. New York State Common Retirement Fund owned 0.06% of Triton International worth $1,637,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Quotient Investors LLC acquired a new position in Triton International during the third quarter worth $445,000. UBS Asset Management Americas Inc. raised its holdings in Triton International by 60.5% during the second quarter. UBS Asset Management Americas Inc. now owns 16,690 shares of the company’s stock worth $558,000 after buying an additional 6,291 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Triton International during the second quarter worth $874,000. Russell Investments Group Ltd. raised its holdings in Triton International by 21.3% during the second quarter. Russell Investments Group Ltd. now owns 33,399 shares of the company’s stock worth $1,117,000 after buying an additional 5,862 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in Triton International by 1.2% during the second quarter. Advisory Services Network LLC now owns 41,861 shares of the company’s stock worth $1,400,000 after buying an additional 502 shares during the last quarter. Institutional investors own 63.28% of the company’s stock.
Several research firms have weighed in on TRTN. ValuEngine downgraded shares of Triton International from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub downgraded shares of Triton International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. Wells Fargo & Co upped their price objective on shares of Triton International from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Triton International from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report 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 company a “buy” rating in a report on Monday, November 13th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.00.
Triton International (NYSE:TRTN) last announced its earnings results 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. The company had revenue of $302.10 million during the quarter, compared to the consensus estimate of $301.71 million. Triton International had a net margin of 14.44% and a return on equity of 8.50%. The company’s quarterly 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 company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 1st were issued a $0.45 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.80 annualized dividend and a dividend yield of 4.60%. Triton International’s dividend payout ratio is currently 382.98%.
In related news, VP Michelle Gallagher sold 1,000 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $40.00, for a total transaction of $40,000.00. Following the completion of the transaction, the vice president now owns 23,158 shares in the company, valued at $926,320. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kenneth Hanau sold 10,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $40.31, for a total transaction of $403,100.00. Following the transaction, the director now owns 31,580 shares of the company’s stock, valued at approximately $1,272,989.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,500 shares of company stock valued at $500,370. 1.50% of the stock is currently owned by corporate insiders.
About Triton International
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.
Want to see what other hedge funds are holding TRTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triton International Limited (NYSE:TRTN).
Receive News & Ratings for Triton International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triton International and related companies with MarketBeat.com's FREE daily email newsletter.