Bank of New York Mellon Corp Increases Position in Triton International Limited (TRTN)
Bank of New York Mellon Corp lifted its stake in shares of Triton International Limited (NYSE:TRTN) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,053 shares of the company’s stock after purchasing an additional 7,286 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Triton International worth $7,389,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in TRTN. Quotient Investors LLC bought a new stake in Triton International during the 3rd quarter worth approximately $445,000. UBS Asset Management Americas Inc. grew its holdings in Triton International by 60.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,690 shares of the company’s stock worth $558,000 after acquiring an additional 6,291 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Triton International during the 2nd quarter worth approximately $874,000. Russell Investments Group Ltd. grew its holdings in Triton International by 21.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 33,399 shares of the company’s stock worth $1,117,000 after acquiring an additional 5,862 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in Triton International by 1.2% during the 2nd quarter. Advisory Services Network LLC now owns 41,861 shares of the company’s stock worth $1,400,000 after acquiring an additional 502 shares during the last quarter. 63.28% of the stock is currently owned by institutional investors.
Triton International Limited (NYSE:TRTN) opened at $38.23 on Friday. The stock has a market cap of $3,060.46, a P/E ratio of 17.78, a PEG ratio of 1.84 and a beta of 2.71. Triton International Limited has a 1 year low of $15.69 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.33 and a quick ratio of 1.33.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 1st were given a $0.45 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.71%. Triton International’s dividend payout ratio (DPR) is currently 83.72%.
In other news, VP Michelle Gallagher sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the transaction, the vice president now owns 23,158 shares in the company, valued at approximately $926,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Hanau sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $40.31, for a total transaction of $403,100.00. Following the completion of the transaction, the director now owns 31,580 shares in the company, valued at approximately $1,272,989.80. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock worth $500,370 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Cowen boosted their target price on shares of Triton International from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. SunTrust Banks boosted their target price on shares of Triton International from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 13th. They noted that the move was a valuation call. BidaskClub raised shares of Triton International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Wells Fargo & Co boosted their target price 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. Finally, Zacks Investment Research raised shares of Triton International from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, November 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.00.
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.
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