Sippican Capital Advisors Buys 6,902 Shares of Triton International Ltd (TRTN)

Sippican Capital Advisors grew its position in Triton International Ltd (NYSE:TRTN) by 41.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,558 shares of the company’s stock after acquiring an additional 6,902 shares during the quarter. Sippican Capital Advisors’ holdings in Triton International were worth $733,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in shares of Triton International by 1,640.9% in the 1st quarter. Meeder Asset Management Inc. now owns 13,875 shares of the company’s stock worth $433,000 after purchasing an additional 13,078 shares during the last quarter. W.E. Donoghue & Co. LLC bought a new position in Triton International during the first quarter worth about $954,000. Landsberg Bennett & Dubbaneh LLC lifted its holdings in Triton International by 18.9% during the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 9,777 shares of the company’s stock worth $311,000 after acquiring an additional 1,552 shares in the last quarter. Truvestments Capital LLC bought a new position in Triton International during the first quarter worth about $623,000. Finally, Calamos Advisors LLC bought a new position in Triton International during the first quarter worth about $373,000. Institutional investors own 66.28% of the company’s stock.

In other news, Director Claude Germain purchased 2,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $26.68 per share, with a total value of $53,360.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $53,360. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Pincus (Ganymede-Ii) P. Warburg sold 7,132,790 shares of Triton International stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $31.10, for a total value of $221,829,769.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several research firms have weighed in on TRTN. Zacks Investment Research upgraded Triton International from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. ValuEngine upgraded Triton International from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, Bank of America lowered Triton International from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $32.00 in a report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Triton International presently has an average rating of “Hold” and an average price target of $36.25.

TRTN stock traded down $0.10 during midday trading on Thursday, hitting $31.30. 311,654 shares of the company’s stock were exchanged, compared to its average volume of 506,536. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.34. The firm has a market cap of $2.39 billion, a PE ratio of 6.92, a P/E/G ratio of 0.70 and a beta of 2.34. Triton International Ltd has a one year low of $28.20 and a one year high of $39.56.

Triton International (NYSE:TRTN) last posted its earnings results on Tuesday, April 30th. The company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.13. Triton International had a return on equity of 16.27% and a net margin of 26.23%. The firm had revenue of $340.90 million for the quarter, compared to analyst estimates of $350.36 million. During the same period in the previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts forecast that Triton International Ltd will post 4.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend is Wednesday, June 5th. Triton International’s dividend payout ratio is 46.02%.

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Triton International 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, refrigerated, special, and tank containers; and chassis used for the transportation of intermodal containers, as well as provides container management services.

Further Reading: Average Daily Trade Volume – What You Need to Know

Institutional Ownership by Quarter for Triton International (NYSE:TRTN)

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