Public Employees Retirement System of Ohio decreased its holdings in shares of Ryder System, Inc. (NYSE:R – Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,195 shares of the transportation company’s stock after selling 2,090 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ryder System were worth $3,929,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC raised its stake in Ryder System by 522.7% during the first quarter. Cedar Mountain Advisors LLC now owns 137 shares of the transportation company’s stock valued at $28,000 after buying an additional 115 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Ryder System during the 4th quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ryder System during the fourth quarter valued at approximately $34,000. Optima Capital LLC purchased a new position in shares of Ryder System during the fourth quarter valued at approximately $39,000. Finally, Root Financial Partners LLC lifted its position in Ryder System by 45.5% during the first quarter. Root Financial Partners LLC now owns 243 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 76 shares during the period. 87.47% of the stock is currently owned by hedge funds and other institutional investors.
Ryder System Trading Up 0.1%
Shares of Ryder System stock opened at $258.46 on Friday. Ryder System, Inc. has a 1-year low of $157.67 and a 1-year high of $284.25. The company’s fifty day simple moving average is $264.58 and its 200-day simple moving average is $231.30. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $9.91 billion, a PE ratio of 21.03 and a beta of 1.01.
Ryder System Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Monday, August 24th will be issued a dividend of $1.01 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.91. This represents a $4.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 24th. Ryder System’s payout ratio is presently 32.87%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Ryder System from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Citigroup increased their price target on Ryder System from $280.00 to $283.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Morgan Stanley raised their price target on Ryder System from $263.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ryder System in a report on Wednesday, May 27th. Finally, Wall Street Zen raised Ryder System from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $294.14.
Insider Activity at Ryder System
In other news, Director Luis P. Nieto, Jr. sold 720 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $235.79, for a total transaction of $169,768.80. Following the sale, the director directly owned 29,974 shares in the company, valued at $7,067,569.46. This trade represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sanford J. Hodes sold 595 shares of Ryder System stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $251.95, for a total transaction of $149,910.25. Following the transaction, the senior vice president owned 22,948 shares in the company, valued at approximately $5,781,748.60. This trade represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. 4.90% of the stock is owned by insiders.
About Ryder System
Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.
Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.
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