Ryder System, Inc. (NYSE:R) Shares Purchased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Ryder System shares by 63%, owning 4,378 shares valued at approximately $630,000 as of the latest SEC filing.
• Analysts have raised their price targets on Ryder System, with Stephens and Morgan Stanley targeting $190.00, while Susquehanna set a target of $215.00.
• Ryder System announced a quarterly dividend increase to $0.91 per share, marking a rise from the previous dividend of $0.81.

Ontario Teachers Pension Plan Board grew its position in Ryder System, Inc. (NYSE:R - Free Report) by 63.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,378 shares of the transportation company's stock after acquiring an additional 1,692 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Ryder System were worth $630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of R. Leigh Baldwin & CO. LLC purchased a new position in Ryder System during the 4th quarter worth $40,475,000. State of Alaska Department of Revenue raised its position in Ryder System by 2.2% during the 1st quarter. State of Alaska Department of Revenue now owns 4,928 shares of the transportation company's stock worth $708,000 after buying an additional 105 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in Ryder System during the 1st quarter worth $557,000. GAMMA Investing LLC raised its position in Ryder System by 41.8% during the 1st quarter. GAMMA Investing LLC now owns 1,278 shares of the transportation company's stock worth $184,000 after buying an additional 377 shares during the last quarter. Finally, Gotham Asset Management LLC raised its position in Ryder System by 10.3% during the 4th quarter. Gotham Asset Management LLC now owns 73,785 shares of the transportation company's stock worth $11,574,000 after buying an additional 6,908 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ryder System

In related news, CFO Cristina Gallo-Aquino sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $180.87, for a total value of $180,870.00. Following the completion of the sale, the chief financial officer directly owned 26,561 shares in the company, valued at approximately $4,804,088.07. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Follin Smith sold 5,523 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $177.66, for a total transaction of $981,216.18. Following the completion of the sale, the director owned 33,779 shares of the company's stock, valued at approximately $6,001,177.14. The trade was a 14.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,582 shares of company stock worth $8,158,745 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on R shares. Susquehanna started coverage on shares of Ryder System in a research report on Tuesday, July 15th. They set a "positive" rating and a $215.00 target price on the stock. Wolfe Research upgraded shares of Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 target price on the stock in a research report on Tuesday, July 1st. JPMorgan Chase & Co. boosted their target price on shares of Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their target price on shares of Ryder System from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Baird R W upgraded shares of Ryder System to a "strong-buy" rating in a research report on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.50.

Ryder System Price Performance

Shares of Ryder System stock traded up $5.62 on Tuesday, hitting $179.54. The company's stock had a trading volume of 233,329 shares, compared to its average volume of 380,822. The firm has a fifty day moving average price of $165.62 and a 200-day moving average price of $154.90. Ryder System, Inc. has a 52-week low of $125.54 and a 52-week high of $184.76. The company has a market capitalization of $7.32 billion, a P/E ratio of 15.27 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 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $0.21. The business 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%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 earnings per share. On average, equities research analysts expect that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Ryder System's previous quarterly dividend of $0.81. The ex-dividend date is Monday, August 18th. Ryder System's payout ratio is presently 27.55%.

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.