Principal Financial Group Inc. increased its stake in Ryder System, Inc. (NYSE:R) by 173.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 226,288 shares of the transportation company’s stock after buying an additional 143,515 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Ryder System worth $16,288,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Ryder System by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 6,246,709 shares of the transportation company’s stock worth $471,252,000 after buying an additional 221,478 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Ryder System by 5,520.5% in the 1st quarter. BlackRock Inc. now owns 3,535,794 shares of the transportation company’s stock worth $266,741,000 after buying an additional 3,472,885 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ryder System by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,963,005 shares of the transportation company’s stock worth $148,089,000 after buying an additional 61,572 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Ryder System by 1.3% in the 1st quarter. Bank of America Corp DE now owns 874,906 shares of the transportation company’s stock worth $66,002,000 after buying an additional 11,569 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Ryder System by 6.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 820,490 shares of the transportation company’s stock worth $59,058,000 after buying an additional 51,763 shares during the last quarter. 89.54% of the stock is currently owned by institutional investors.
R has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Ryder System from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Friday, July 7th. BidaskClub cut Ryder System from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus restated a “hold” rating and issued a $68.00 price objective on shares of Ryder System in a research note on Tuesday, September 5th. Finally, KeyCorp upgraded Ryder System from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, September 13th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ryder System presently has an average rating of “Buy” and a consensus target price of $77.17.
In other news, CEO Robert E. Sanchez sold 26,275 shares of Ryder System stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.43, for a total transaction of $1,903,098.25. Following the transaction, the chief executive officer now directly owns 107,237 shares of the company’s stock, valued at approximately $7,767,175.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dennis C. Cooke sold 9,650 shares of Ryder System stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $72.75, for a total value of $702,037.50. Following the transaction, the insider now directly owns 2,883 shares in the company, valued at $209,738.25. The disclosure for this sale can be found here. Insiders sold 40,427 shares of company stock worth $2,933,827 over the last three months. Insiders own 1.95% of the company’s stock.
Shares of Ryder System, Inc. (R) opened at 79.46 on Monday. The company has a 50-day moving average price of $75.01 and a 200-day moving average price of $72.21. Ryder System, Inc. has a 52 week low of $62.03 and a 52 week high of $85.42. The company has a market capitalization of $4.21 billion, a PE ratio of 19.13 and a beta of 1.37.
Ryder System (NYSE:R) last announced its earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.07. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ryder System had a return on equity of 11.71% and a net margin of 3.17%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.56 earnings per share. Analysts predict that Ryder System, Inc. will post $4.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 21st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.32%. This is a boost from Ryder System’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, August 17th. Ryder System’s dividend payout ratio (DPR) is presently 44.12%.
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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