Wedge Capital Management L L P NC Sells 7,264 Shares of Ryder System, Inc. $R

Key Points

• Wedge Capital Management reduced its Ryder System stake by 12.3% in the second quarter, selling 7,264 shares and retaining 51,723 shares valued at approximately $13.6 million.
• Ryder reported quarterly EPS of $3.73, ahead of the $3.69 consensus estimate, while revenue rose 5% year over year to $2.69 billion. The company issued full-year 2026 EPS guidance of $14.40–$14.80.
• Ryder increased its quarterly dividend from $0.91 to $1.01 per share, implying an annualized dividend of $4.04 and a 1.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $294.14.

Wedge Capital Management L L P NC lowered its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 12.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 51,723 shares of the transportation company's stock after selling 7,264 shares during the period. Wedge Capital Management L L P NC owned about 0.13% of Ryder System worth $13,643,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of R. Norges Bank bought a new position in Ryder System during the 4th quarter worth $111,168,000. JPMorgan Chase & Co. grew its position in shares of Ryder System by 326.8% in the 4th quarter. JPMorgan Chase & Co. now owns 705,037 shares of the transportation company's stock valued at $134,937,000 after buying an additional 539,854 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in shares of Ryder System by 107.3% in the fourth quarter. Orbis Allan Gray Ltd now owns 974,620 shares of the transportation company's stock valued at $186,533,000 after buying an additional 504,404 shares during the period. First Trust Advisors LP increased its stake in shares of Ryder System by 81.5% in the first quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company's stock valued at $206,822,000 after buying an additional 453,697 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Ryder System by 53.3% during the third quarter. AQR Capital Management LLC now owns 720,108 shares of the transportation company's stock worth $134,855,000 after acquiring an additional 250,432 shares during the last quarter. Institutional investors own 87.47% of the company's stock.

Insiders Place Their Bets

In related news, SVP Sanford J. Hodes sold 595 shares of the company'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 transaction, the senior vice president directly owned 22,948 shares of the company's stock, valued at approximately $5,781,748.60. This represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.90% of the company's stock.

Ryder System Stock Up 1.9%

Shares of NYSE R opened at $263.57 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.91. The firm has a market cap of $10.11 billion, a PE ratio of 21.45 and a beta of 1.02. The company's fifty day simple moving average is $266.64 and its 200 day simple moving average is $235.76. Ryder System, Inc. has a 12-month low of $157.67 and a 12-month high of $284.25.

Ryder System (NYSE:R - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The transportation company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.04. Ryder System had a net margin of 3.88% and a return on equity of 18.28%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the previous year, the firm posted $3.32 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. Ryder System has set its FY 2026 guidance at 14.400-14.800 EPS and its Q3 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts forecast that Ryder System, Inc. will post 14.74 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Monday, August 24th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Ryder System's previous quarterly dividend of $0.91. Ryder System's dividend payout ratio is presently 29.62%.

Wall Street Analyst Weigh In

A number of research firms recently commented on R. Susquehanna lifted their price objective on Ryder System from $290.00 to $310.00 and gave the stock a "positive" rating in a research note on Friday, July 24th. Citizens Jmp assumed coverage on shares of Ryder System in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Weiss Ratings restated a "buy (b)" rating on shares of Ryder System in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upped their price objective on shares of Ryder System from $259.00 to $296.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Barclays increased their price objective on shares of Ryder System from $290.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $294.14.

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.

Want to see what other hedge funds are holding R? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryder System, Inc. (NYSE:R - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source