State Board of Administration of Florida Retirement System lessened its holdings in Ryder System, Inc. (NYSE:R – Free Report) by 2.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 49,303 shares of the transportation company’s stock after selling 1,470 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Ryder System worth $4,400,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Ryder System by 13.6% during the first quarter. JPMorgan Chase & Co. now owns 193,131 shares of the transportation company’s stock valued at $15,322,000 after purchasing an additional 23,111 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Ryder System during the first quarter valued at about $290,000. MetLife Investment Management LLC grew its holdings in shares of Ryder System by 33.3% in the first quarter. MetLife Investment Management LLC now owns 34,694 shares of the transportation company’s stock valued at $2,752,000 after purchasing an additional 8,674 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Ryder System by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,678 shares of the transportation company’s stock worth $1,561,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Ryder System by 12.5% in the first quarter. Great West Life Assurance Co. Can now owns 32,930 shares of the transportation company’s stock worth $2,691,000 after purchasing an additional 3,652 shares during the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on R shares. Robert W. Baird upgraded shares of Ryder System from a “neutral” rating to an “outperform” rating in a research report on Monday, July 31st. Wells Fargo & Company boosted their price objective on Ryder System from $80.00 to $100.00 in a research note on Thursday, July 27th. Finally, StockNews.com assumed coverage on Ryder System in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.60.
Insiders Place Their Bets
In other news, CEO Robert E. Sanchez sold 93,415 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $100.13, for a total transaction of $9,353,643.95. Following the transaction, the chief executive officer now owns 62,383 shares of the company’s stock, valued at approximately $6,246,409.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert E. Sanchez sold 93,415 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $100.13, for a total transaction of $9,353,643.95. Following the transaction, the chief executive officer now owns 62,383 shares of the company’s stock, valued at approximately $6,246,409.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Karen M. Jones sold 900 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $102.13, for a total value of $91,917.00. Following the sale, the chief marketing officer now directly owns 5,814 shares in the company, valued at approximately $593,783.82. The disclosure for this sale can be found here. Insiders have sold 171,634 shares of company stock worth $17,271,137 in the last three months. Corporate insiders own 4.00% of the company’s stock.
Ryder System Stock Up 1.4 %
Shares of NYSE:R opened at $103.46 on Tuesday. The firm has a market capitalization of $4.71 billion, a PE ratio of 8.96 and a beta of 1.58. The business has a 50 day simple moving average of $97.44 and a two-hundred day simple moving average of $88.66. Ryder System, Inc. has a 1 year low of $65.69 and a 1 year high of $104.21. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.62 and a quick ratio of 0.60.
Ryder System (NYSE:R – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $3.61 EPS for the quarter, beating the consensus estimate of $2.97 by $0.64. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $3.05 billion. Ryder System had a return on equity of 23.98% and a net margin of 4.79%. Ryder System’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.43 EPS. On average, equities analysts predict that Ryder System, Inc. will post 12.74 EPS for the current year.
Ryder System Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 21st were paid a $0.71 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Friday, August 18th. Ryder System’s dividend payout ratio is currently 24.61%.
Ryder System Company Profile
Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website.
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