Ryder System, Inc. $R Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. reduced its position in shares of Ryder System, Inc. (NYSE:R) by 27.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,800 shares of the transportation company’s stock after selling 33,430 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Ryder System were worth $19,778,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in R. Keating Financial Advisory Services Inc. bought a new stake in Ryder System during the 2nd quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ryder System in the 2nd quarter valued at $30,000. Cedar Mountain Advisors LLC raised its position in Ryder System by 522.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 137 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 115 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Ryder System by 36.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 160 shares of the transportation company’s stock worth $42,000 after purchasing an additional 43 shares in the last quarter. Finally, Compass Financial Management LLC bought a new position in Ryder System in the 2nd quarter valued at $54,000. 87.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on R. JPMorgan Chase & Co. increased their price target on Ryder System from $298.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Barclays boosted their price objective on shares of Ryder System from $300.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Citigroup reiterated a “market perform” rating on shares of Ryder System in a report on Friday, October 23rd. Janney Montgomery Scott set a $285.00 price target on shares of Ryder System in a research report on Thursday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Ryder System from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ryder System presently has an average rating of “Moderate Buy” and an average price target of $296.67.

Ryder System Stock Performance

Shares of Ryder System stock opened at $282.26 on Monday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 21.51 and a beta of 1.04. The stock’s 50-day moving average is $245.00 and its 200-day moving average is $237.18. Ryder System, Inc. has a one year low of $161.41 and a one year high of $287.00.

Ryder System (NYSE:R) last announced its earnings results on Thursday, October 22nd. The transportation company reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $0.18. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.38 billion. Ryder System had a return on equity of 19.14% and a net margin of 3.98%. Ryder System’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.57 EPS. Equities analysts predict that Ryder System, Inc. will post 15.07 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $4.04 annualized dividend and a dividend yield of 1.4%. Ryder System’s payout ratio is 30.79%.

Insider Activity

In other news, insider Robert Sanchez sold 1,653 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $280.01, for a total transaction of $462,856.53. Following the sale, the insider owned 40,828 shares in the company, valued at $11,432,248.28. This represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 34,614 shares of company stock worth $9,749,529. Corporate insiders own 4.90% of the company’s stock.

Ryder System Profile

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.