Alliancebernstein L.P. decreased its stake in Ryder System, Inc. (NYSE:R) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 983,358 shares of the transportation company’s stock after selling 14,772 shares during the quarter. Alliancebernstein L.P. owned about 1.86% of Ryder System worth $82,769,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in Ryder System by 17.1% during the 4th quarter. BlackRock Inc. now owns 5,870,993 shares of the transportation company’s stock valued at $494,161,000 after purchasing an additional 855,742 shares in the last quarter. Wells Fargo & Company MN raised its position in Ryder System by 2.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,906,691 shares of the transportation company’s stock valued at $160,487,000 after purchasing an additional 39,052 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Ryder System by 3.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,788,271 shares of the transportation company’s stock valued at $151,198,000 after purchasing an additional 53,772 shares in the last quarter. Pzena Investment Management LLC raised its position in Ryder System by 145.2% during the 4th quarter. Pzena Investment Management LLC now owns 1,380,890 shares of the transportation company’s stock valued at $116,230,000 after purchasing an additional 817,610 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Ryder System by 0.9% during the 4th quarter. Schroder Investment Management Group now owns 1,083,439 shares of the transportation company’s stock valued at $91,193,000 after purchasing an additional 9,961 shares in the last quarter. Hedge funds and other institutional investors own 93.35% of the company’s stock.
R has been the subject of several recent research reports. Zacks Investment Research raised Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday, January 15th. Buckingham Research reissued a “buy” rating and issued a $90.00 price target (down from $101.00) on shares of Ryder System in a research report on Tuesday, February 20th. Stifel Nicolaus restated a “hold” rating and set a $86.00 target price on shares of Ryder System in a research note on Thursday, January 18th. Seaport Global Securities restated a “hold” rating on shares of Ryder System in a research note on Friday, February 23rd. Finally, JPMorgan Chase restated a “neutral” rating and set a $73.00 target price (down from $94.00) on shares of Ryder System in a research note on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $88.00.
Ryder System stock traded down $1.47 during trading hours on Monday, hitting $71.32. 391,201 shares of the stock traded hands, compared to its average volume of 579,260. Ryder System, Inc. has a 1 year low of $62.52 and a 1 year high of $90.26. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $3,856.24, a PE ratio of 15.58, a PEG ratio of 0.87 and a beta of 1.47.
Ryder System (NYSE:R) last issued its earnings results on Friday, February 16th. The transportation company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01. Ryder System had a return on equity of 10.47% and a net margin of 10.78%. 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 prior year, the business earned $1.07 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. analysts predict that Ryder System, Inc. will post 5.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th were paid a $0.52 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.92%. Ryder System’s dividend payout ratio is presently 45.92%.
Ryder System declared that its board has authorized a share repurchase program on Thursday, December 14th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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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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