Wedge Capital Management L L P NC Trims Stake in Ryder System, Inc. (NYSE:R)

Wedge Capital Management L L P NC lowered its stake in Ryder System, Inc. (NYSE:R) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,541 shares of the transportation company’s stock after selling 7,054 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Ryder System were worth $14,607,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. CWM LLC lifted its stake in shares of Ryder System by 115.9% during the 1st quarter. CWM LLC now owns 408 shares of the transportation company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Ryder System by 238.4% during the 1st quarter. Rehmann Capital Advisory Group now owns 599 shares of the transportation company’s stock worth $37,000 after purchasing an additional 422 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Ryder System by 54.3% during the 1st quarter. Meeder Asset Management Inc. now owns 725 shares of the transportation company’s stock worth $45,000 after purchasing an additional 255 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Ryder System by 49.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 833 shares of the transportation company’s stock worth $51,000 after purchasing an additional 275 shares during the period. Finally, American Research & Management Co. purchased a new position in shares of Ryder System during the 1st quarter worth $62,000. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Karen M. Jones sold 1,767 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $52.21, for a total value of $92,255.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.



A number of analysts have recently commented on the company. Zacks Investment Research upgraded Ryder System from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. KeyCorp dropped their price objective on Ryder System from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. SunTrust Banks dropped their price objective on Ryder System to $65.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. TheStreet downgraded Ryder System from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. Finally, ValuEngine downgraded Ryder System from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Ryder System currently has a consensus rating of “Buy” and an average target price of $73.50.

Shares of R stock traded down $1.56 on Wednesday, reaching $46.66. 7,997 shares of the stock were exchanged, compared to its average volume of 580,017. The stock has a market cap of $2.59 billion, a PE ratio of 8.11 and a beta of 1.81. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 2.54. The stock’s 50 day moving average price is $54.88. Ryder System, Inc. has a 1-year low of $44.80 and a 1-year high of $79.95.

Ryder System (NYSE:R) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 EPS. As a group, equities analysts forecast that Ryder System, Inc. will post 5.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 16th will be issued a $0.56 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Friday, August 16th. Ryder System’s dividend payout ratio is currently 37.31%.

About Ryder System

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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

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