Ryder System, Inc. $R Stock Holdings Boosted by First Trust Advisors LP

Key Points

• First Trust Advisors LP boosted its Ryder System stake by 81.5% in the first quarter, ending with 1,010,320 shares valued at about $206.8 million.
• Ryder reported Q1 EPS of $2.54, topping estimates, though revenue of $2.57 billion came in below expectations; analysts now see the company as a Moderate Buy with an average price target of $265.
• The company raised its quarterly dividend to $1.01 per share from $0.91, while shares recently traded near their 52-week high at $276.85.

First Trust Advisors LP increased its position in Ryder System, Inc. (NYSE:R - Free Report) by 81.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,010,320 shares of the transportation company's stock after acquiring an additional 453,697 shares during the period. First Trust Advisors LP owned approximately 2.61% of Ryder System worth $206,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Calamos Wealth Management LLC bought a new stake in shares of Ryder System during the fourth quarter valued at approximately $1,408,000. Oak Thistle LLC bought a new position in Ryder System in the 4th quarter worth approximately $903,000. AE Wealth Management LLC increased its position in Ryder System by 27.2% in the 4th quarter. AE Wealth Management LLC now owns 179,184 shares of the transportation company's stock valued at $34,294,000 after acquiring an additional 38,286 shares during the period. NewEdge Wealth LLC increased its position in Ryder System by 2.9% in the 4th quarter. NewEdge Wealth LLC now owns 250,334 shares of the transportation company's stock valued at $47,911,000 after acquiring an additional 6,952 shares during the period. Finally, Braun Stacey Associates Inc. bought a new stake in Ryder System during the 1st quarter valued at $12,189,000. 87.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Luis P. Nieto, Jr. sold 720 shares of Ryder System stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $235.79, for a total value of $169,768.80. Following the transaction, the director owned 29,974 shares of the company's stock, valued at $7,067,569.46. The trade was a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Sanford J. Hodes sold 595 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $251.95, for a total transaction of $149,910.25. Following the completion of the sale, the senior vice president owned 22,948 shares in the company, valued at $5,781,748.60. The trade was a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on R shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Ryder System in a research report on Wednesday, May 27th. Zacks Research lowered Ryder System from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Morgan Stanley lifted their price objective on shares of Ryder System from $263.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Wall Street Zen raised shares of Ryder System from a "hold" rating to a "buy" rating in a report on Saturday, April 25th. Finally, Citigroup lowered shares of Ryder System from a "neutral" rating to a "hold" rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $265.00.

Ryder System Stock Performance

R opened at $276.85 on Thursday. The business has a 50 day moving average price of $260.83 and a two-hundred day moving average price of $228.21. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 23.01 and a beta of 1.01. Ryder System, Inc. has a 1-year low of $157.67 and a 1-year high of $284.25.

Ryder System (NYSE:R - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.25. The company had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $3.11 billion. Ryder System had a return on equity of 17.75% and a net margin of 3.91%.The firm's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. Research analysts predict that Ryder System, Inc. will post 14.73 EPS for the current fiscal year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Monday, August 24th will be given a dividend of $1.01 per share. This is a positive change from Ryder System's previous quarterly dividend of $0.91. The ex-dividend date is Monday, August 24th. This represents a $4.04 annualized dividend and a dividend yield of 1.5%. Ryder System's payout ratio is 30.26%.

Ryder System Company Profile

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company's Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.

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