Ryder System Inc. (R) Shares Sold by 1832 Asset Management L.P.
1832 Asset Management L.P. cut its position in Ryder System Inc. (NYSE:R) by 58.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 574,548 shares of the company’s stock after selling 793,528 shares during the period. 1832 Asset Management L.P. owned about 1.07% of Ryder System worth $35,271,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Advance Capital I Inc. purchased a new stake in shares of Ryder System during the second quarter worth about $202,000. Societe Generale purchased a new stake in shares of Ryder System during the second quarter worth about $215,000. SG Americas Securities LLC purchased a new stake in shares of Ryder System during the second quarter worth about $215,000. Mackenzie Financial Corp boosted its stake in shares of Ryder System by 14.3% in the second quarter. Mackenzie Financial Corp now owns 3,550 shares of the company’s stock worth $217,000 after buying an additional 444 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Ryder System during the second quarter worth about $230,000. 92.38% of the stock is currently owned by institutional investors.
Ryder System Inc. (NYSE:R) traded down 2.13% on Friday, hitting $77.77. 1,456,338 shares of the company traded hands. The firm has a market capitalization of $4.16 billion, a PE ratio of 14.32 and a beta of 1.23. The firm’s 50 day moving average price is $67.33 and its 200 day moving average price is $66.44. Ryder System Inc. has a 1-year low of $45.12 and a 1-year high of $80.01.
Ryder System (NYSE:R) last announced its earnings results on Tuesday, October 25th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.01. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ryder System had a return on equity of 15.76% and a net margin of 4.32%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. Equities research analysts predict that Ryder System Inc. will post $5.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Monday, November 21st will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $1.76 annualized dividend and a yield of 2.26%. Ryder System’s payout ratio is 32.35%.
Several brokerages have recently weighed in on R. Zacks Investment Research cut Ryder System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. KeyCorp reiterated a “hold” rating on shares of Ryder System in a research report on Sunday, October 9th. Credit Agricole SA began coverage on Ryder System in a research report on Friday, September 30th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Aegis began coverage on Ryder System in a research report on Monday, October 24th. They set a “buy” rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Ryder System has an average rating of “Hold” and a consensus target price of $72.33.
In other Ryder System news, EVP Karen M. Jones sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $69.02, for a total value of $69,020.00. Following the transaction, the executive vice president now directly owns 4,086 shares of the company’s stock, valued at $282,015.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.
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 full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers 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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