State Board of Administration of Florida Retirement System Has $4,094,000 Stake in Ryder System, Inc. (R)

State Board of Administration of Florida Retirement System held its stake in shares of Ryder System, Inc. (NYSE:R) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,870 shares of the transportation company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.11% of Ryder System worth $4,094,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Private Advisor Group LLC acquired a new position in Ryder System in the 1st quarter valued at $116,000. JFS Wealth Advisors LLC raised its stake in Ryder System by 1.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,160 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 24 shares during the last quarter. LS Investment Advisors LLC raised its stake in Ryder System by 28.8% in the 1st quarter. LS Investment Advisors LLC now owns 2,473 shares of the transportation company’s stock valued at $187,000 after purchasing an additional 553 shares during the last quarter. Clear Investment Research LLC acquired a new position in Ryder System in the 2nd quarter valued at $190,000. Finally, Trexquant Investment LP acquired a new position in Ryder System in the 2nd quarter valued at $202,000. 89.54% of the stock is owned by institutional investors and hedge funds.

In other Ryder System news, insider John S. Sensing sold 4,502 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $73.01, for a total transaction of $328,691.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dennis C. Cooke sold 9,650 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 2,883 shares in the company, valued at approximately $209,738.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,427 shares of company stock worth $2,933,827. Insiders own 1.95% of the company’s stock.

Shares of Ryder System, Inc. (NYSE R) opened at 79.46 on Friday. The firm has a 50-day moving average price of $74.83 and a 200-day moving average price of $72.19. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 19.13 and a beta of 1.37. Ryder System, Inc. has a 52-week low of $62.03 and a 52-week high of $85.42.

Ryder System (NYSE:R) last issued its earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.07. Ryder System had a return on equity of 11.71% and a net margin of 3.17%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Analysts predict that Ryder System, Inc. will post $4.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be paid a $0.46 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.32%. Ryder System’s payout ratio is 44.12%.

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R has been the subject of several analyst reports. BidaskClub upgraded Ryder System from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Friday, July 7th. Stifel Nicolaus restated a “hold” rating and issued a $68.00 target price on shares of Ryder System in a report on Tuesday, September 5th. Finally, KeyCorp upgraded Ryder System from a “sector weight” rating to an “overweight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ryder System has an average rating of “Buy” and a consensus price target of $77.17.

Ryder System Profile

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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