Pacer Advisors Inc. Decreases Holdings in Ryder System, Inc. (NYSE:R)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Ryder System, Inc. by 72.5% during the first quarter, leaving it with 2,845 shares valued at approximately $409,000.
• Ryder System announced an increase in its quarterly dividend to $0.91 per share, payable on September 19th, representing an annualized yield of 2.1%.
• The company reported $3.32 earnings per share for the last quarter, exceeding analysts’ expectations, and had a revenue increase to $3.19 billion year-over-year.

Pacer Advisors Inc. lowered its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 72.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,845 shares of the transportation company's stock after selling 7,493 shares during the quarter. Pacer Advisors Inc.'s holdings in Ryder System were worth $409,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ryder System in the first quarter valued at approximately $26,000. Curat Global LLC bought a new position in Ryder System in the first quarter worth approximately $55,000. Kapitalo Investimentos Ltda bought a new position in Ryder System in the fourth quarter worth approximately $59,000. New Age Alpha Advisors LLC bought a new position in Ryder System in the fourth quarter worth approximately $86,000. Finally, Group One Trading LLC raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Insider Activity

In other Ryder System news, Director E Follin Smith sold 5,523 shares of Ryder System stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $177.66, for a total value of $981,216.18. Following the completion of the sale, the director directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert E. Sanchez sold 22,063 shares of Ryder System stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $182.49, for a total transaction of $4,026,276.87. Following the completion of the sale, the chief executive officer directly owned 62,887 shares of the company's stock, valued at $11,476,248.63. The trade was a 25.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,582 shares of company stock worth $8,158,745. Company insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays began coverage on Ryder System in a research note on Monday, June 9th. They set an "overweight" rating and a $190.00 target price on the stock. Wolfe Research raised 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. Baird R W raised Ryder System to a "strong-buy" rating in a research report on Tuesday, July 1st. Stephens upped their target price on Ryder System from $150.00 to $190.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley upped 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ryder System currently has an average rating of "Moderate Buy" and a consensus price target of $186.50.

Ryder System Stock Up 0.5%

NYSE:R traded up $0.82 during trading hours on Wednesday, hitting $178.20. The company's stock had a trading volume of 115,960 shares, compared to its average volume of 382,226. The stock has a market capitalization of $7.27 billion, a P/E ratio of 15.15 and a beta of 1.00. The stock has a fifty day moving average of $163.38 and a 200-day moving average of $154.66. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.27. Ryder System, Inc. has a 52-week low of $125.54 and a 52-week high of $184.76.

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

Ryder System Increases Dividend

The business also recently declared 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. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, August 18th. This is a positive change from Ryder System's previous quarterly dividend of $0.81. Ryder System's payout ratio is 27.55%.

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.