Parametric Portfolio Associates LLC lifted its position in Ryder System, Inc. (NYSE:R) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,949 shares of the transportation company’s stock after acquiring an additional 14,338 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.40% of Ryder System worth $17,836,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlueMountain Capital Management LLC bought a new position in Ryder System during the second quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ryder System by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after buying an additional 156 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Ryder System by 94.7% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock valued at $183,000 after buying an additional 1,240 shares during the period. King Luther Capital Management Corp purchased a new stake in Ryder System during the third quarter valued at about $221,000. Finally, Boothbay Fund Management LLC purchased a new stake in Ryder System during the third quarter valued at about $231,000. Institutional investors own 89.35% of the company’s stock.
In other Ryder System news, insider Dennis C. Cooke sold 32,328 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $81.46, for a total value of $2,633,438.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Karen M. Jones sold 4,790 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $81.78, for a total value of $391,726.20. The disclosure for this sale can be found here. Insiders have sold a total of 63,633 shares of company stock worth $5,174,795 over the last ninety days. Insiders own 1.95% of the company’s stock.
Ryder System, Inc. (NYSE:R) opened at $85.02 on Thursday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $4,470.00, a P/E ratio of 22.92, a P/E/G ratio of 1.25 and a beta of 1.51. Ryder System, Inc. has a 52-week low of $62.52 and a 52-week high of $85.60.
Ryder System (NYSE:R) last issued its quarterly earnings results on Tuesday, October 24th. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business earned $1.67 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. analysts anticipate that Ryder System, Inc. will post 4.51 EPS for the current year.
Ryder System declared that its board has initiated a share repurchase program on Thursday, December 14th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, November 20th were issued a $0.46 dividend. The ex-dividend date was Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a yield of 2.16%. Ryder System’s dividend payout ratio is presently 49.60%.
R has been the topic of several recent research reports. Buckingham Research upped their price objective on shares of Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Zacks Investment Research raised shares of Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, October 31st. Aegis reaffirmed a “buy” rating and set a $91.00 price objective (up from $84.00) on shares of Ryder System in a report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $85.00.
About Ryder System
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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