15,808 Ryder System, Inc. $R Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in shares of Ryder System, Inc. (NYSE:R) by 13.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 99,380 shares of the transportation company’s stock after selling 15,808 shares during the quarter. ProShare Advisors LLC owned about 0.26% of Ryder System worth $22,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Ryder System during the second quarter valued at about $1,060,749,000. Dimensional Fund Advisors LP grew its position in Ryder System by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,621,947 shares of the transportation company’s stock valued at $331,996,000 after buying an additional 6,652 shares in the last quarter. First Trust Advisors LP grew its position in Ryder System by 81.5% in the 1st quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company’s stock valued at $206,822,000 after buying an additional 453,697 shares in the last quarter. Bank of America Corp DE acquired a new position in Ryder System during the 2nd quarter valued at about $207,689,000. Finally, Bank of New York Mellon Corp acquired a new position in Ryder System during the 2nd quarter valued at about $136,320,000. Institutional investors own 87.47% of the company’s stock.

Ryder System Stock Performance

NYSE:R opened at $286.35 on Tuesday. The company has a 50-day moving average of $245.73 and a 200-day moving average of $237.66. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 21.83 and a beta of 1.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.86. Ryder System, Inc. has a twelve month low of $161.41 and a twelve month high of $291.03.

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

Ryder System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 23rd will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, November 23rd. Ryder System’s payout ratio is presently 30.79%.

Insiders Place Their Bets

In other news, insider Robert E. Sanchez sold 26,350 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $281.29, for a total transaction of $7,411,991.50. Following the completion of the sale, the insider directly owned 42,481 shares of the company’s stock, valued at $11,949,480.49. This represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Cristina Gallo-Aquino sold 1,238 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $276.85, for a total value of $342,740.30. Following the completion of the transaction, the chief financial officer owned 29,026 shares of the company’s stock, valued at $8,035,848.10. This trade represents a 4.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,852 shares of company stock worth $10,092,270 over the last 90 days. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

R has been the subject of a number of research analyst reports. Citigroup reaffirmed a “market perform” rating on shares of Ryder System in a research note on Friday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Ryder System in a report on Monday, August 24th. Morgan Stanley upgraded shares of Ryder System from an “overweight” rating to a “buy” rating in a research note on Monday, October 5th. Barclays upped their target price on Ryder System from $300.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Finally, Wells Fargo & Company increased their price target on Ryder System from $300.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ryder System has an average rating of “Moderate Buy” and a consensus price target of $296.67.

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.