NewEdge Wealth LLC Acquires 27,608 Shares of Ryder System, Inc. $R

NewEdge Wealth LLC boosted its holdings in Ryder System, Inc. (NYSE:R) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 277,942 shares of the transportation company’s stock after purchasing an additional 27,608 shares during the period. NewEdge Wealth LLC owned approximately 0.72% of Ryder System worth $56,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of R. Norges Bank bought a new stake in Ryder System in the fourth quarter valued at approximately $111,168,000. JPMorgan Chase & Co. grew its holdings in shares of Ryder System by 326.8% in the fourth quarter. JPMorgan Chase & Co. now owns 705,037 shares of the transportation company’s stock worth $134,937,000 after purchasing an additional 539,854 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings 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 worth $186,533,000 after purchasing an additional 504,404 shares during the last quarter. 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 worth $206,822,000 after buying an additional 453,697 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Ryder System by 53.3% in the third quarter. AQR Capital Management LLC now owns 720,108 shares of the transportation company’s stock worth $134,855,000 after buying an additional 250,432 shares during the period. 87.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Ryder System from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Ryder System from $203.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Morgan Stanley lifted their target price on shares of Ryder System from $263.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Citigroup lowered Ryder System from a “neutral” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company increased their price objective on shares of Ryder System from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.00.

Ryder System Price Performance

R opened at $276.85 on Thursday. The company’s 50-day simple moving average is $260.83 and its two-hundred day simple moving average is $228.21. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $10.71 billion, a P/E ratio of 23.01 and a beta of 1.01. Ryder System, Inc. has a 52-week low of $157.67 and a 52-week high of $284.25.

Ryder System (NYSE:R) last announced its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.25. Ryder System had a net margin of 3.91% and a return on equity of 17.75%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts predict that Ryder System, Inc. will post 14.73 EPS for the current year.

Ryder System Increases Dividend

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

Insiders Place Their Bets

In other news, SVP Sanford J. Hodes sold 595 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $251.95, for a total value of $149,910.25. Following the completion of the sale, the senior vice president directly owned 22,948 shares in the company, valued at $5,781,748.60. This represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Luis P. Nieto, Jr. sold 720 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $235.79, for a total value of $169,768.80. Following the completion of the transaction, the director directly owned 29,974 shares in the company, valued at approximately $7,067,569.46. This represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.90% of the company’s stock.

Ryder System 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.