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%.
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.
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