Wedge Capital Management L L P NC Sells 18,770 Shares of Ryder System, Inc. (NYSE:R)

Wedge Capital Management L L P NC reduced its stake in shares of Ryder System, Inc. (NYSE:R - Free Report) by 14.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 109,430 shares of the transportation company's stock after selling 18,770 shares during the period. Wedge Capital Management L L P NC owned approximately 0.25% of Ryder System worth $12,591,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CWM LLC grew its position in Ryder System by 33.9% during the third quarter. CWM LLC now owns 438 shares of the transportation company's stock valued at $47,000 after buying an additional 111 shares during the period. Quent Capital LLC increased its position in shares of Ryder System by 17.7% in the fourth quarter. Quent Capital LLC now owns 745 shares of the transportation company's stock valued at $86,000 after buying an additional 112 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Ryder System by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 13,237 shares of the transportation company's stock worth $1,416,000 after buying an additional 184 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Ryder System during the 4th quarter valued at approximately $26,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Ryder System by 5.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,260 shares of the transportation company's stock valued at $490,000 after acquiring an additional 231 shares during the period. Hedge funds and other institutional investors own 87.47% of the company's stock.

Ryder System Stock Up 12.0 %

Shares of Ryder System stock traded up $13.05 during trading hours on Tuesday, reaching $122.05. 714,917 shares of the company were exchanged, compared to its average volume of 259,980. The firm has a market cap of $5.40 billion, a PE ratio of 13.98 and a beta of 1.40. The stock's fifty day moving average is $114.26 and its 200 day moving average is $110.58. Ryder System, Inc. has a 1 year low of $76.15 and a 1 year high of $122.81. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.62 and a current ratio of 0.62.

Ryder System (NYSE:R - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The transportation company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.20. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.98 billion. Ryder System had a return on equity of 19.68% and a net margin of 3.45%. The business's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.89 EPS. As a group, equities research analysts forecast that Ryder System, Inc. will post 11.9 earnings per share for the current year.

Ryder System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, February 16th. Ryder System's payout ratio is currently 32.53%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on R. Vertical Research downgraded shares of Ryder System from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research note on Wednesday, January 10th. Robert W. Baird reissued a "buy" rating and issued a $140.00 target price on shares of Ryder System in a research note on Wednesday, January 3rd. Stephens upped their price target on Ryder System from $110.00 to $113.00 and gave the company an "equal weight" rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. lifted their price objective on Ryder System from $117.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $122.00 target price on shares of Ryder System in a research note on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $120.00.

Insider Buying and Selling at Ryder System

In other Ryder System news, CMO Karen M. Jones sold 7,737 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total transaction of $877,994.76. Following the completion of the sale, the chief marketing officer now directly owns 12,396 shares of the company's stock, valued at approximately $1,406,698.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.10% of the stock is currently owned by company 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.