UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ryder System, Inc. (NYSE:R – Free Report) by 2.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 124,638 shares of the transportation company’s stock after buying an additional 3,307 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ryder System were worth $32,876,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of R. Royal Bank of Canada raised its holdings in Ryder System by 52.8% in the 1st quarter. Royal Bank of Canada now owns 15,765 shares of the transportation company’s stock valued at $2,267,000 after acquiring an additional 5,448 shares during the period. Focus Partners Wealth grew its position in shares of Ryder System by 7.9% in the first quarter. Focus Partners Wealth now owns 1,851 shares of the transportation company’s stock valued at $266,000 after purchasing an additional 135 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Ryder System by 61.2% in the first quarter. Geneos Wealth Management Inc. now owns 287 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 109 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Ryder System by 10.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,191 shares of the transportation company’s stock worth $189,000 after purchasing an additional 110 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Ryder System by 10.9% during the second quarter. M&T Bank Corp now owns 2,153 shares of the transportation company’s stock worth $343,000 after purchasing an additional 212 shares during the period. Institutional investors own 87.47% of the company’s stock.
Ryder System Trading Up 1.7%
Shares of NYSE:R opened at $247.22 on Friday. The business’s 50 day simple moving average is $260.61 and its 200 day simple moving average is $241.04. Ryder System, Inc. has a 1 year low of $157.67 and a 1 year high of $284.25. 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 company has a market capitalization of $9.48 billion, a P/E ratio of 20.12 and a beta of 1.01.
Ryder System Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Monday, August 24th will be given a dividend of $1.01 per share. The ex-dividend date is Monday, August 24th. This represents a $4.04 annualized dividend and a dividend yield of 1.6%. This is an increase from Ryder System’s previous quarterly dividend of $0.91. Ryder System’s dividend payout ratio is currently 32.87%.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Barclays boosted their price target on Ryder System from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price objective on Ryder System from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Wall Street Zen raised Ryder System from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Morgan Stanley boosted their target price on shares of Ryder System from $263.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ryder System in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.14.
View Our Latest Analysis on Ryder System
Ryder System Company Profile
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.
Recommended Stories
- Five stocks we like better than Ryder System
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
Want to see what other hedge funds are holding R? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryder System, Inc. (NYSE:R – Free Report).
Receive News & Ratings for Ryder System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryder System and related companies with MarketBeat.com's FREE daily email newsletter.
