DAVENPORT & Co LLC purchased a new position in shares of Ryder System, Inc. (NYSE:R - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,870 shares of the transportation company's stock, valued at approximately $557,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Invst LLC increased its position in Ryder System by 0.7% during the 4th quarter. Invst LLC now owns 8,315 shares of the transportation company's stock worth $1,304,000 after purchasing an additional 61 shares in the last quarter. Deutsche Bank AG increased its position in shares of Ryder System by 1.6% during the fourth quarter. Deutsche Bank AG now owns 4,136 shares of the transportation company's stock worth $649,000 after buying an additional 65 shares during the period. Baird Financial Group Inc. boosted its stake in Ryder System by 0.9% during the fourth quarter. Baird Financial Group Inc. now owns 9,826 shares of the transportation company's stock worth $1,541,000 after acquiring an additional 90 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Ryder System by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 6,534 shares of the transportation company's stock worth $940,000 after acquiring an additional 90 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Ryder System by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,928 shares of the transportation company's stock valued at $708,000 after buying an additional 105 shares in the last quarter. Institutional investors own 87.47% of the company's stock.
Ryder System Trading Up 0.1%
Shares of Ryder System stock traded up $0.24 during trading on Friday, reaching $176.25. The company's stock had a trading volume of 481,580 shares, compared to its average volume of 326,516. Ryder System, Inc. has a 52-week low of $120.84 and a 52-week high of $177.40. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 15.37 and a beta of 0.97. The firm's 50-day moving average is $154.66 and its two-hundred day moving average is $152.64. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.21.
Ryder System (NYSE:R - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same period in the prior year, the business posted $2.14 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Ryder System, Inc. will post 13.68 earnings per share for the current year.
Ryder System Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 18th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.07%. This is a positive change from Ryder System's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, August 18th. Ryder System's dividend payout ratio (DPR) is presently 28.25%.
Wall Street Analysts Forecast Growth
R has been the topic of a number of recent research reports. Wolfe Research raised shares of Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price objective on the stock in a research note on Tuesday, July 1st. Wall Street Zen downgraded shares of Ryder System from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. increased their target price on shares of Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a research report on Tuesday. Robert W. Baird initiated coverage on shares of Ryder System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $186.00 target price for the company. Finally, Barclays started coverage on shares of Ryder System in a research report on Monday, June 9th. They set an "overweight" rating and a $190.00 target price for the company. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $173.50.
View Our Latest Stock Report on R
Insider Activity
In related news, Director E Follin Smith sold 1,243 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $144.38, for a total value of $179,464.34. Following the completion of the transaction, the director directly owned 39,802 shares in the company, valued at $5,746,612.76. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert E. Sanchez sold 18,496 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the sale, the chief executive officer directly owned 40,824 shares in the company, valued at $6,357,521.52. This trade represents a 31.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.
About Ryder System
(
Free Report)
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, as well as digital and technology support services.
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