Prudential Financial Inc. grew its holdings in Ryder System, Inc. (NYSE:R) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,471 shares of the transportation company’s stock after purchasing an additional 216 shares during the period. Prudential Financial Inc. owned approximately 0.43% of Ryder System worth $16,517,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of R. Bank of Nova Scotia purchased a new position in Ryder System during the first quarter valued at approximately $830,000. Canada Pension Plan Investment Board grew its stake in Ryder System by 155.2% during the second quarter. Canada Pension Plan Investment Board now owns 159,988 shares of the transportation company’s stock valued at $11,516,000 after acquiring an additional 97,300 shares in the last quarter. Mason Street Advisors LLC grew its stake in Ryder System by 1.0% during the first quarter. Mason Street Advisors LLC now owns 7,389 shares of the transportation company’s stock valued at $557,000 after acquiring an additional 75 shares in the last quarter. Geode Capital Management LLC grew its stake in Ryder System by 11.4% during the first quarter. Geode Capital Management LLC now owns 551,479 shares of the transportation company’s stock valued at $41,559,000 after acquiring an additional 56,642 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Ryder System by 10.2% during the first quarter. OppenheimerFunds Inc. now owns 11,043 shares of the transportation company’s stock valued at $833,000 after acquiring an additional 1,019 shares in the last quarter. 89.54% of the stock is currently owned by institutional investors.
Ryder System, Inc. (NYSE R) opened at 79.00 on Friday. The stock has a market cap of $4.19 billion, a PE ratio of 19.02 and a beta of 1.37. The firm has a 50-day moving average of $74.01 and a 200-day moving average of $72.05. Ryder System, Inc. has a 1-year low of $62.03 and a 1-year high of $85.42.
Ryder System (NYSE:R) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.07. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 earnings per share. Analysts expect that Ryder System, Inc. will post $4.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 21st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.33%. This is a boost from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s dividend payout ratio (DPR) is presently 44.12%.
Several equities analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $68.00 price objective on shares of Ryder System in a research note on Tuesday. ValuEngine raised shares of Ryder System from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub raised shares of Ryder System from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Finally, Buckingham Research assumed coverage on shares of Ryder System in a research note on Monday, August 21st. They set a “buy” rating and a $85.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $77.17.
In related news, insider Dennis C. Cooke sold 9,650 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.75, for a total value of $702,037.50. Following the completion of the transaction, the insider now directly owns 2,883 shares of the company’s stock, valued at $209,738.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert E. Sanchez sold 26,275 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the completion of the transaction, the chief executive officer now directly owns 107,237 shares of the company’s stock, valued at $7,767,175.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,427 shares of company stock worth $2,933,827. Company insiders own 1.95% of the company’s stock.
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About Ryder System
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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