Sippican Capital Advisors increased its stake in shares of Triton International Ltd (NYSE:TRTN) by 41.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,558 shares of the company’s stock after purchasing an additional 6,902 shares during the quarter. Sippican Capital Advisors’ holdings in Triton International were worth $733,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in Triton International by 1,640.9% in the first quarter. Meeder Asset Management Inc. now owns 13,875 shares of the company’s stock valued at $433,000 after acquiring an additional 13,078 shares during the last quarter. W.E. Donoghue & Co. LLC bought a new position in Triton International in the first quarter valued at approximately $954,000. Landsberg Bennett & Dubbaneh LLC raised its holdings in Triton International by 18.9% in the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 9,777 shares of the company’s stock worth $311,000 after purchasing an additional 1,552 shares during the period. Truvestments Capital LLC acquired a new stake in Triton International in the first quarter worth $623,000. Finally, Calamos Advisors LLC acquired a new stake in Triton International in the first quarter worth $373,000. 65.53% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Pincus (Ganymede-Ii) P. Warburg sold 7,132,790 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $31.10, for a total transaction of $221,829,769.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.
Triton International (NYSE:TRTN) last issued its quarterly earnings data on Thursday, February 14th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Triton International had a net margin of 25.89% and a return on equity of 15.60%. The business had revenue of $355.40 million for the quarter, compared to analyst estimates of $359.00 million. During the same period last year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. Research analysts expect that Triton International Ltd will post 4.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.33%. Triton International’s payout ratio is 46.02%.
Several research firms have weighed in on TRTN. Zacks Investment Research upgraded shares of Triton International from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Monday, April 8th. ValuEngine upgraded shares of Triton International from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 26th. Finally, Bank of America lowered shares of Triton International from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $35.00 to $32.00 in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Triton International has an average rating of “Hold” and a consensus price target of $36.25.
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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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