Bank of New York Mellon Corp boosted its stake in Triton International Ltd (NYSE:TRTN) by 34.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,531 shares of the company’s stock after purchasing an additional 70,702 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of Triton International worth $8,448,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Triton International by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,448,765 shares of the company’s stock worth $136,132,000 after purchasing an additional 543,929 shares during the period. BlackRock Inc. grew its position in Triton International by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,131,378 shares of the company’s stock worth $95,820,000 after purchasing an additional 29,206 shares during the period. Kempen Capital Management N.V. grew its position in Triton International by 72.0% in the 1st quarter. Kempen Capital Management N.V. now owns 596,563 shares of the company’s stock worth $18,255,000 after purchasing an additional 249,624 shares during the period. Northern Trust Corp grew its position in Triton International by 0.5% in the 1st quarter. Northern Trust Corp now owns 565,054 shares of the company’s stock worth $17,290,000 after purchasing an additional 2,703 shares during the period. Finally, Penn Capital Management Co. Inc. bought a new stake in Triton International in the 2nd quarter worth approximately $11,233,000. 65.19% of the stock is owned by institutional investors and hedge funds.
Shares of Triton International stock opened at $37.35 on Friday. The firm has a market cap of $3.05 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.87 and a beta of 3.10. Triton International Ltd has a 1-year low of $27.76 and a 1-year high of $43.85. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.37 and a current ratio of 1.37.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 4th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend was Friday, August 31st. Triton International’s dividend payout ratio is presently 74.82%.
In related news, VP Michelle Gallagher sold 6,000 shares of Triton International stock in a transaction on Monday, August 13th. The shares were sold at an average price of $35.90, for a total transaction of $215,400.00. Following the transaction, the vice president now owns 19,209 shares in the company, valued at approximately $689,603.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pincus (Ganymede-Ii) P. Warburg sold 1,850,000 shares of Triton International stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $34.78, for a total transaction of $64,343,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,859,000 shares of company stock worth $64,672,429 in the last quarter. Corporate insiders own 1.40% of the company’s stock.
TRTN has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Triton International from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Compass Point reaffirmed a “buy” rating and issued a $42.00 target price on shares of Triton International in a research report on Friday, August 3rd. Finally, Keefe, Bruyette & Woods raised shares of Triton International from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 6th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.83.
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 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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