Triton International Ltd (NYSE:TRTN) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,124,200 shares, a growth of 38.9% from the July 31st total of 1,529,500 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily trading volume, of 374,700 shares, the days-to-cover ratio is presently 5.7 days.
In other Triton International news, VP Michelle Gallagher sold 2,360 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $32.29, for a total value of $76,204.40. Following the sale, the vice president now directly owns 12,644 shares in the company, valued at $408,274.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Laurion Capital Management LP purchased a new stake in Triton International in the first quarter valued at approximately $12,591,000. Nuveen Asset Management LLC increased its holdings in shares of Triton International by 2,801.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 400,404 shares of the company’s stock valued at $13,118,000 after acquiring an additional 386,602 shares during the period. BlackRock Inc. raised its position in Triton International by 9.9% in the 2nd quarter. BlackRock Inc. now owns 3,860,078 shares of the company’s stock valued at $126,456,000 after purchasing an additional 348,177 shares during the last quarter. LSV Asset Management raised its position in Triton International by 9.9% in the 2nd quarter. LSV Asset Management now owns 1,538,203 shares of the company’s stock valued at $50,391,000 after purchasing an additional 138,400 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Triton International by 534.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 154,881 shares of the company’s stock worth $5,074,000 after purchasing an additional 130,487 shares during the period. Hedge funds and other institutional investors own 59.32% of the company’s stock.
NYSE TRTN traded up $1.53 during trading hours on Wednesday, hitting $35.14. The company had a trading volume of 718,666 shares, compared to its average volume of 447,084. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.90 and a current ratio of 1.90. Triton International has a 1-year low of $28.20 and a 1-year high of $38.45. The company has a market cap of $2.50 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 0.70 and a beta of 2.30. The business has a 50 day moving average of $31.88 and a 200-day moving average of $31.91.
Triton International (NYSE:TRTN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $1.10 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Triton International will post 4.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, September 4th. This represents a $2.08 dividend on an annualized basis and a yield of 5.92%. Triton International’s dividend payout ratio is presently 46.02%.
Several equities analysts have commented on TRTN shares. TheStreet upgraded shares of Triton International from a “d-” rating to a “c” rating in a research note on Friday, July 12th. ValuEngine raised shares of Triton International from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. Finally, Compass Point set a $38.00 price objective on shares of Triton International and gave the stock a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have issued 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 price target of $35.25.
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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