Meiji Yasuda Asset Management Co Ltd. Acquires Shares of 32,831 Ryder System, Inc. $R

Key Points

• Meiji Yasuda Asset Management Co Ltd. has invested approximately $4.72 million to acquire 32,831 shares in Ryder System, Inc., representing 0.08% of the company's total stock.
• Several institutional investors, including Wellington Management and Bank of New York Mellon, have increased their stakes in Ryder System during the first quarter of 2023.
• Ryder System recently declared a quarterly dividend of $0.91 per share, marking an increase from the previous dividend of $0.81, with an annualized yield of 1.9%.

Meiji Yasuda Asset Management Co Ltd. bought a new position in Ryder System, Inc. (NYSE:R - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,831 shares of the transportation company's stock, valued at approximately $4,721,000. Meiji Yasuda Asset Management Co Ltd. owned 0.08% of Ryder System as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Great Lakes Advisors LLC increased its stake in Ryder System by 11.2% in the first quarter. Great Lakes Advisors LLC now owns 2,148 shares of the transportation company's stock worth $309,000 after purchasing an additional 217 shares during the period. Petrus Trust Company LTA purchased a new stake in Ryder System in the first quarter worth $203,000. NewEdge Advisors LLC increased its stake in Ryder System by 4.5% in the first quarter. NewEdge Advisors LLC now owns 24,106 shares of the transportation company's stock worth $3,467,000 after purchasing an additional 1,042 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Ryder System by 2.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 445,921 shares of the transportation company's stock worth $64,128,000 after buying an additional 11,650 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of Ryder System by 28.6% during the 1st quarter. Gotham Asset Management LLC now owns 94,900 shares of the transportation company's stock worth $13,648,000 after buying an additional 21,115 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Analyst Upgrades and Downgrades

R has been the topic of a number of recent research reports. Wolfe Research raised Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price target on the stock in a research report on Tuesday, July 1st. Robert W. Baird increased their price target on Ryder System from $186.00 to $192.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Susquehanna initiated coverage on Ryder System in a research report on Tuesday, July 15th. They set a "positive" rating and a $215.00 price target on the stock. Stephens increased their price target on Ryder System from $150.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $186.50.

Ryder System Stock Down 1.1%

R traded down $2.05 on Friday, hitting $187.52. 409,815 shares of the company were exchanged, compared to its average volume of 240,636. Ryder System, Inc. has a twelve month low of $125.54 and a twelve month high of $191.00. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 15.95 and a beta of 0.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.27. The firm has a 50-day moving average price of $179.70 and a two-hundred day moving average price of $158.86.

Ryder System (NYSE:R - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $3.32 EPS for the quarter, topping the consensus estimate of $3.11 by $0.21. The firm had revenue of $3.19 billion during the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a return on equity of 17.83% and a net margin of 3.99%.Ryder System's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 EPS. Ryder System has set its Q3 2025 guidance at 3.450-3.650 EPS. FY 2025 guidance at 12.850-13.300 EPS. On average, equities analysts predict that Ryder System, Inc. will post 13.68 earnings per share for the current year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 18th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. This is an increase from Ryder System's previous quarterly dividend of $0.81. Ryder System's payout ratio is currently 30.95%.

Insider Buying and Selling at Ryder System

In other news, Director E Follin Smith sold 5,523 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $177.66, for a total transaction of $981,216.18. Following the completion of the transaction, the director directly owned 33,779 shares of the company's stock, valued at approximately $6,001,177.14. This represents a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steve W. Martin sold 5,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $186.98, for a total value of $1,028,390.00. Following the completion of the sale, the executive vice president directly owned 24,235 shares of the company's stock, valued at approximately $4,531,460.30. This trade represents a 18.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,618 shares of company stock worth $7,587,997. Corporate insiders own 5.20% of the company's stock.

About Ryder System

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.