Wedge Capital Management L L P NC Sells 3,610 Shares of Ryder System, Inc. (NYSE:R)

Wedge Capital Management L L P NC trimmed its stake in shares of Ryder System, Inc. (NYSE:R - Free Report) by 5.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 68,771 shares of the transportation company's stock after selling 3,610 shares during the quarter. Wedge Capital Management L L P NC owned about 0.16% of Ryder System worth $9,890,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Ryder System during the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ryder System in the first quarter valued at about $26,000. Principal Securities Inc. grew its position in Ryder System by 36.5% in the fourth quarter. Principal Securities Inc. now owns 344 shares of the transportation company's stock valued at $54,000 after acquiring an additional 92 shares during the last quarter. Curat Global LLC acquired a new position in Ryder System during the first quarter worth about $55,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Ryder System in the fourth quarter worth about $59,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

R has been the topic of several research reports. Wall Street Zen lowered shares of Ryder System from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Stephens lowered their price target on shares of Ryder System from $168.00 to $150.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Barclays began coverage on Ryder System in a research note on Monday. They issued an "overweight" rating and a $190.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Ryder System from $174.00 to $165.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.71.

Ryder System Trading Down 0.3%

Shares of Ryder System stock traded down $0.45 during trading on Thursday, hitting $149.60. The company's stock had a trading volume of 319,464 shares, compared to its average volume of 325,785. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 13.49 and a beta of 0.96. Ryder System, Inc. has a 52 week low of $116.58 and a 52 week high of $171.78. The stock has a 50-day moving average price of $145.18 and a two-hundred day moving average price of $153.22. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.75 and a quick ratio of 0.75.

Ryder System (NYSE:R - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a return on equity of 17.23% and a net margin of 3.87%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 earnings per share. Equities research analysts anticipate that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 19th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, May 19th. Ryder System's dividend payout ratio is currently 28.25%.

Insider Transactions at Ryder System

In other Ryder System news, CEO Robert E. Sanchez sold 18,496 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the transaction, the chief executive officer now directly owns 40,824 shares in the company, valued at approximately $6,357,521.52. This represents a 31.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director E Follin Smith sold 1,243 shares of Ryder System stock in a transaction on Monday, May 5th. The shares were sold at an average price of $144.38, for a total transaction of $179,464.34. Following the completion of the sale, the director now owns 39,802 shares of the company's stock, valued at $5,746,612.76. This represents a 3.03% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

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.