Quantitative Investment Management LLC boosted its stake in shares of Ryder System, Inc. (NYSE:R) by 34.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,100 shares of the transportation company’s stock after purchasing an additional 19,300 shares during the period. Quantitative Investment Management LLC owned approximately 0.14% of Ryder System worth $6,321,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of R. Crossmark Global Holdings Inc. purchased a new position in shares of Ryder System in the 3rd quarter valued at $671,000. State Board of Administration of Florida Retirement System raised its stake in shares of Ryder System by 3.9% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 59,090 shares of the transportation company’s stock valued at $4,996,000 after acquiring an additional 2,220 shares during the period. Stevens Capital Management LP purchased a new position in shares of Ryder System in the 3rd quarter valued at $447,000. Prudential Financial Inc. raised its stake in shares of Ryder System by 36.1% in the 3rd quarter. Prudential Financial Inc. now owns 312,277 shares of the transportation company’s stock valued at $26,403,000 after acquiring an additional 82,806 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Ryder System by 3,752.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 19,645 shares of the transportation company’s stock valued at $1,661,000 after acquiring an additional 19,135 shares during the period. 93.38% of the stock is currently owned by institutional investors.
R has been the topic of a number of research reports. Zacks Investment Research raised shares of Ryder System from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, January 15th. Seaport Global Securities reissued a “hold” rating on shares of Ryder System in a research note on Friday, February 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $86.00 target price on shares of Ryder System in a research note on Thursday, January 18th. KeyCorp reissued an “overweight” rating and issued a $95.00 target price (down previously from $100.00) on shares of Ryder System in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $73.00 target price (down previously from $94.00) on shares of Ryder System in a research note on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ryder System presently has an average rating of “Hold” and an average target price of $88.00.
Ryder System (NYSE:R) last released its quarterly earnings results on Friday, February 16th. The transportation company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.01. Ryder System had a net margin of 10.78% and a return on equity of 10.47%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. analysts expect that Ryder System, Inc. will post 5.59 earnings per share for the current fiscal year.
Ryder System announced that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.52 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 16th. This represents a $2.08 annualized dividend and a yield of 2.73%. Ryder System’s payout ratio is 13.97%.
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Ryder System Company Profile
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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