Prudential Financial Inc. Boosts Stake in Ryder System, Inc. (R)

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.

Institutional Ownership by Quarter for Ryder System (NYSE:R)

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