Wedge Capital Management L L P NC Cuts Stock Holdings in Ryder System, Inc. (NYSE:R)

Wedge Capital Management L L P NC lowered its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,771 shares of the transportation company's stock after selling 3,610 shares during the period. Wedge Capital Management L L P NC owned about 0.16% of Ryder System worth $9,890,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of R. SBI Securities Co. Ltd. acquired a new position in shares of Ryder System during the 4th quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ryder System in the 1st quarter worth about $26,000. Principal Securities Inc. increased its holdings in Ryder System by 36.5% in the 4th quarter. Principal Securities Inc. now owns 344 shares of the transportation company's stock worth $54,000 after purchasing an additional 92 shares in the last quarter. Curat Global LLC acquired a new position in Ryder System in the 1st quarter worth about $55,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Ryder System in the 4th quarter worth about $59,000. Institutional investors and hedge funds own 87.47% of the company's stock.

Ryder System Trading Down 2.6%

NYSE R traded down $3.96 during trading hours on Wednesday, hitting $150.10. 298,861 shares of the company's stock were exchanged, compared to its average volume of 325,810. The stock has a 50-day simple moving average of $145.18 and a 200 day simple moving average of $153.22. Ryder System, Inc. has a 1-year low of $116.58 and a 1-year high of $171.78. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 13.53 and a beta of 0.96. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.14.

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

Ryder System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 19th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.24 annualized dividend and a yield of 2.16%. Ryder System's dividend payout ratio is currently 28.25%.

Insider Buying and Selling

In other Ryder System news, CEO Robert E. Sanchez sold 18,496 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $155.73, for a total value of $2,880,382.08. Following the completion of the sale, the chief executive officer now owns 40,824 shares of the company's stock, valued at approximately $6,357,521.52. This trade represents a 31.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director E Follin Smith sold 1,243 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $144.38, for a total value of $179,464.34. Following the completion of the sale, the director now directly owns 39,802 shares of the company's stock, valued at $5,746,612.76. This trade 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 insiders.

Wall Street Analyst Weigh In

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

Ryder System 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.