Advisor Partners LLC makes new investment in Ryder System, Inc. (NYSE:R)


Advisor Partners LLC acquired a new position in shares of Ryder System, Inc. (NYSE:R – Get Rating ) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,536 shares of the transportation company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also bought and sold shares of R. Robeco Institutional Asset Management BV raised its holdings in shares of Ryder System by 14.8% in the first quarter. Robeco Institutional Asset Management BV now owns 60,637 shares of the transportation company’s stock worth $4,810,000 after buying an additional 7,828 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in Ryder System by 364.4% during the first quarter. Miracle Mile Advisors LLC now owns 28,675 shares of the transportation company’s stock valued at $2,275,000 after buying an additional 22,500 shares in the last quarter. Truist Financial Corp boosted its holdings in Ryder System by 14.7% during the first quarter. Truist Financial Corp now owns 23,374 shares of the transportation company’s stock valued at $1,854,000 after purchasing an additional 2,987 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Ryder System by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the transportation company’s stock valued at $954,000 after purchasing an additional 300 shares in the last quarter. Finally, Pacific Heights Asset Management LLC boosted its holdings in Ryder System by 7.7% during the first quarter. Pacific Heights Asset Management LLC now owns 70,000 shares of the transportation company’s stock worth $5,553,000 after buying an additional 5,000 shares in the last quarter. 87.24% of the shares are owned by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of analysts recently commented on shares of R. Wells Fargo & Company increased their price objective on shares of Ryder System from $68.00 to $81.00 and gave the stock an “equal weight” rating in a report on Monday, June 6. StockNews.com lowered shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 4th. Stifel Nicolaus lifted their target price on shares of Ryder System from $80.00 to $90.00 in a research report on Monday, June 6th. Wolfe Research upgraded shares of Ryder System from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ryder System from $88.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, April 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.67.

Internal activity

In other news, Director Luis P. Nieto, Jr. sold 2,220 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $73.28, for a total value of $162,681.60. Following the completion of the transaction, the director now directly owns 26,939 shares in the company, valued at $1,974,089.92. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC’s website. In related news, CMO Karen M. Jones sold 7,269 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $73.63, for a total value of $535,216.47. Following the sale, the chief marketing officer now directly owns 6,963 shares of the company’s stock, valued at $512,685.69. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, director Luis P. Nieto, Jr. sold 2,220 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $73.28, for a total transaction of $162,681.60. Following the completion of the sale, the director now directly owns 26,939 shares in the company, valued at $1,974,089.92. Disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Ryder System Stock Performance

Shares of R stock opened at $72.60 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.57, and a current ratio of 0.59. Ryder System, Inc. it has a one year low of $61.71 and a one year high of $93.05. The company has a 50 day moving average price of $75.58 and a 200 day moving average price of $75.40. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 6.03 and a beta of 1.73.

Ryder System (NYSE:R – Get Rating ) last issued its quarterly earnings data on Wednesday, April 27th. The transportation company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $1.21. Ryder System had a net margin of 6.25% and a return on equity of 24.86%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period a year ago, the firm earned $1.09 per share. Ryder System’s revenue for the quarter was up 28.4% on a year-over-year basis. Sell-side analysts predict that Ryder System, Inc. will post 14.48 EPS for the current year.

The Ryder system increases the dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Monday, August 22nd will be paid a $0.62 dividend. The ex-dividend date is Friday, August 19th. This is an increase from Ryder System’s previous quarterly dividend of $0.58. This represents an annual dividend of $2.48 and a dividend yield of 3.42%. Ryder System’s dividend payout ratio is 19.27%.

About Ryder System

(Get rating)

Ryder System, Inc. operates as a worldwide logistics and transportation company. The company operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS) and Dedicated Transportation Solutions (DTS). The FMS segment offers full leasing services and leasing with flexible maintenance options, as well as maintenance services, supplies and related equipment for the operation of vehicles; commercial vehicle rental services; and contract or transactional truck, tractor and trailer maintenance services, as well as fleet support services.

Further reading

Institutional Ownership by Quarter for Ryder System (NYSE:R)



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