People s United Financial Inc. raised its position in Ryder System, Inc. (NYSE:R) by 12.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,685 shares of the transportation company’s stock after purchasing an additional 2,103 shares during the period. People s United Financial Inc.’s holdings in Ryder System were worth $1,365,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Spark Investment Management LLC lifted its position in shares of Ryder System by 19.4% during the 2nd quarter. Spark Investment Management LLC now owns 4,000 shares of the transportation company’s stock valued at $287,000 after acquiring an additional 650 shares during the period. Envestnet Asset Management Inc. increased its stake in Ryder System by 16.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,395 shares of the transportation company’s stock valued at $460,000 after purchasing an additional 899 shares in the last quarter. Intrust Bank NA increased its stake in Ryder System by 16.0% during the 2nd quarter. Intrust Bank NA now owns 7,352 shares of the transportation company’s stock valued at $529,000 after purchasing an additional 1,015 shares in the last quarter. Arizona State Retirement System increased its stake in Ryder System by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 36,863 shares of the transportation company’s stock valued at $2,649,000 after purchasing an additional 1,053 shares in the last quarter. Finally, American International Group Inc. increased its stake in Ryder System by 1.0% during the 3rd quarter. American International Group Inc. now owns 107,912 shares of the transportation company’s stock valued at $7,885,000 after purchasing an additional 1,071 shares in the last quarter. Hedge funds and other institutional investors own 88.85% of the company’s stock.
A number of analysts have commented on R shares. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Tuesday, August 21st. ValuEngine lowered shares of Ryder System from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. Buckingham Research decreased their price target on shares of Ryder System from $91.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, October 12th. Stifel Nicolaus upgraded shares of Ryder System from a “hold” rating to a “buy” rating and decreased their price target for the company from $81.00 to $69.00 in a research note on Thursday, November 29th. Finally, Loop Capital upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $77.73.
In related news, Director David G. Nord purchased 2,000 shares of Ryder System stock in a transaction that occurred on Thursday, November 8th. The stock was bought at an average price of $57.24 per share, for a total transaction of $114,480.00. Following the completion of the transaction, the director now owns 3,990 shares in the company, valued at $228,387.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John J. Gleason sold 12,795 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $55.14, for a total transaction of $705,516.30. The disclosure for this sale can be found here. 2.27% of the stock is currently owned by corporate insiders.
R opened at $51.32 on Friday. The stock has a market cap of $2.79 billion, a P/E ratio of 9.84 and a beta of 1.62. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.67 and a quick ratio of 0.64. Ryder System, Inc. has a fifty-two week low of $50.89 and a fifty-two week high of $90.26.
Ryder System (NYSE:R) last posted its quarterly earnings results on Friday, October 26th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.01). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Ryder System had a net margin of 9.98% and a return on equity of 9.88%. Ryder System’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Analysts predict that Ryder System, Inc. will post 5.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Monday, November 19th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.16 annualized dividend and a yield of 4.21%. Ryder System’s payout ratio is currently 47.68%.
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Ryder System Company Profile
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as ancillary maintenance and fleet support services.
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