Public Sector Pension Investment Board decreased its stake in Ryder System, Inc. (NYSE:R) by 44.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,000 shares of the transportation company’s stock after selling 53,000 shares during the period. Public Sector Pension Investment Board’s holdings in Ryder System were worth $3,584,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of R. Pzena Investment Management LLC boosted its stake in Ryder System by 22.9% during the 4th quarter. Pzena Investment Management LLC now owns 3,265,330 shares of the transportation company’s stock worth $177,340,000 after purchasing an additional 608,085 shares during the period. State Street Corp boosted its holdings in Ryder System by 0.9% in the fourth quarter. State Street Corp now owns 1,631,885 shares of the transportation company’s stock worth $88,628,000 after purchasing an additional 14,204 shares during the period. FMR LLC boosted its holdings in Ryder System by 574.2% in the first quarter. FMR LLC now owns 583,279 shares of the transportation company’s stock worth $36,157,000 after purchasing an additional 496,769 shares during the period. Earnest Partners LLC boosted its holdings in Ryder System by 12.0% in the fourth quarter. Earnest Partners LLC now owns 405,457 shares of the transportation company’s stock worth $22,020,000 after purchasing an additional 43,302 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Ryder System by 0.3% in the fourth quarter. Russell Investments Group Ltd. now owns 363,612 shares of the transportation company’s stock worth $19,741,000 after purchasing an additional 1,265 shares during the period. Institutional investors and hedge funds own 89.54% of the company’s stock.
A number of equities analysts have commented on the stock. Loop Capital raised shares of Ryder System from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, January 13th. Stifel Nicolaus raised shares of Ryder System from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $51.00 to $37.00 in a report on Tuesday, March 10th. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Cfra decreased their price objective on shares of Ryder System from $57.00 to $50.00 and set a “hold” rating for the company in a report on Friday, February 14th. Finally, Stephens decreased their price objective on shares of Ryder System from $50.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.43.
In other news, EVP Robert D. Fatovic purchased 2,500 shares of Ryder System stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of $37.21 per share, with a total value of $93,025.00. Also, insider John J. Diez purchased 3,250 shares of Ryder System stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $38.04 per share, with a total value of $123,630.00. In the last three months, insiders have bought 18,250 shares of company stock valued at $681,780. Corporate insiders own 2.60% of the company’s stock.
Shares of R traded up $0.98 during midday trading on Thursday, hitting $27.79. 1,528,998 shares of the stock traded hands, compared to its average volume of 1,294,537. Ryder System, Inc. has a 1-year low of $23.41 and a 1-year high of $67.65. The firm has a market capitalization of $1.41 billion, a PE ratio of -57.89 and a beta of 1.83. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.56 and a current ratio of 0.59. The business’s 50 day moving average price is $37.12 and its two-hundred day moving average price is $48.45.
Ryder System (NYSE:R) last announced its quarterly earnings results on Thursday, February 13th. The transportation company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Ryder System had a negative net margin of 0.27% and a positive return on equity of 10.30%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm posted $1.82 EPS. The business’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that Ryder System, Inc. will post 1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 8.06%. The ex-dividend date was Friday, February 14th. Ryder System’s dividend payout ratio (DPR) is 45.16%.
Ryder System announced that its board has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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 fleet support services.
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