Laffer Investments trimmed its position in shares of Ryder System, Inc. (NYSE:R) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,745 shares of the transportation company’s stock after selling 1,315 shares during the period. Laffer Investments’ holdings in Ryder System were worth $1,500,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of R. BlueMountain Capital Management LLC purchased a new position in shares of Ryder System during the 2nd quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ryder System by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 156 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Ryder System by 94.7% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock valued at $183,000 after acquiring an additional 1,240 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Ryder System during the 2nd quarter valued at $202,000. Finally, Petrus Trust Company LTA purchased a new position in shares of Ryder System during the 2nd quarter valued at $214,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.
Ryder System, Inc. (NYSE:R) traded down $0.95 during mid-day trading on Friday, hitting $81.07. 517,600 shares of the company traded hands, compared to its average volume of 704,734. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.96 and a current ratio of 1.02. Ryder System, Inc. has a 1-year low of $62.52 and a 1-year high of $85.50. The firm has a market cap of $4,342.77, a price-to-earnings ratio of 19.44, a PEG ratio of 1.21 and a beta of 1.51.
Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $1.67 EPS. Ryder System’s quarterly revenue was up 7.2% compared to the same quarter last year. sell-side analysts anticipate that Ryder System, Inc. will post 4.51 earnings per share for the current fiscal year.
Ryder System announced that its board has initiated a stock repurchase plan on Thursday, December 14th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 20th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, November 17th. Ryder System’s payout ratio is presently 49.86%.
In related news, insider Dennis C. Cooke sold 32,328 shares of Ryder System stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Gleason sold 8,760 shares of Ryder System stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $78.30, for a total transaction of $685,908.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,633 shares of company stock valued at $5,174,795. 1.95% of the stock is owned by company insiders.
Several equities analysts have recently commented on the stock. ValuEngine cut shares of Ryder System from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Robert W. Baird restated an “outperform” rating and set a $98.00 price target (up from $84.00) on shares of Ryder System in a report on Monday, October 2nd. Buckingham Research boosted their price target 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. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Tuesday, September 26th. Finally, J P Morgan Chase & Co boosted their price target 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.00.
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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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