Ryder System, Inc. (NYSE:R) Position Increased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its position in Ryder System by 9.8%, now owning approximately 0.54% of the company, valued at $31.9 million.
• Ryder System recently declared a quarterly dividend of $0.91 per share, up from the previous $0.81, indicating a strong commitment to returning capital to shareholders.
• Analysts have a consensus rating of "Moderate Buy" for Ryder System, with price targets ranging from $165 to $190.

NewEdge Wealth LLC lifted its holdings in Ryder System, Inc. (NYSE:R - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 221,943 shares of the transportation company's stock after buying an additional 19,773 shares during the quarter. NewEdge Wealth LLC owned approximately 0.54% of Ryder System worth $31,918,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of R. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ryder System in the first quarter worth about $26,000. TCTC Holdings LLC boosted its position in Ryder System by 116.5% during the 1st quarter. TCTC Holdings LLC now owns 223 shares of the transportation company's stock valued at $32,000 after purchasing an additional 120 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Ryder System during the 4th quarter valued at approximately $59,000. Curat Global LLC bought a new position in Ryder System during the 1st quarter worth $55,000. Finally, Group One Trading LLC increased its position in Ryder System by 553.0% in the fourth quarter. Group One Trading LLC now owns 653 shares of the transportation company's stock worth $102,000 after buying an additional 553 shares during the period. 87.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Cristina Gallo-Aquino sold 1,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $180.87, for a total transaction of $180,870.00. Following the completion of the sale, the chief financial officer directly owned 26,561 shares of the company's stock, valued at $4,804,088.07. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert E. Sanchez sold 22,063 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $182.49, for a total value of $4,026,276.87. Following the sale, the chief executive officer owned 62,887 shares of the company's stock, valued at approximately $11,476,248.63. This trade represents a 25.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,825 shares of company stock worth $8,338,209. 5.20% of the stock is owned by company insiders.

Ryder System Trading Down 2.4%

Shares of Ryder System stock opened at $173.51 on Friday. The business has a fifty day simple moving average of $162.36 and a 200-day simple moving average of $154.51. Ryder System, Inc. has a fifty-two week low of $123.36 and a fifty-two week high of $184.76. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 14.75 and a beta of 1.00. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.27.

Ryder System (NYSE:R - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $0.21. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.17 billion. Ryder System had a net margin of 3.99% and a return on equity of 17.83%. Ryder System's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 EPS. On average, equities analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 18th will be issued a dividend of $0.91 per share. This is an increase from Ryder System's previous quarterly dividend of $0.81. This represents a $3.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, August 18th. Ryder System's dividend payout ratio is 27.55%.

Wall Street Analyst Weigh In

R has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Baird R W upgraded shares of Ryder System to a "strong-buy" rating in a research note on Tuesday, July 1st. Barclays assumed coverage on Ryder System in a report on Monday, June 9th. They set an "overweight" rating and a $190.00 price target on the stock. Morgan Stanley raised their target price on Ryder System from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Wolfe Research upgraded Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price target for the company in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ryder System has a consensus rating of "Moderate Buy" and an average price target of $186.50.

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, as well as digital and technology support services.

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