Skandinaviska Enskilda Banken AB publ bought a new position in shares of Ryder System, Inc. (NYSE:R) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 53,500 shares of the transportation company’s stock, valued at approximately $3,977,000. Skandinaviska Enskilda Banken AB publ owned 0.10% of Ryder System at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Ryder System by 14.1% during the first quarter. BlackRock Inc. now owns 6,244,368 shares of the transportation company’s stock worth $472,386,000 after purchasing an additional 772,768 shares during the period. Earnest Partners LLC grew its stake in Ryder System by 5.7% in the first quarter. Earnest Partners LLC now owns 2,730,458 shares of the transportation company’s stock valued at $206,559,000 after acquiring an additional 148,123 shares during the period. Ensign Peak Advisors Inc grew its stake in Ryder System by 25.9% in the first quarter. Ensign Peak Advisors Inc now owns 902,044 shares of the transportation company’s stock valued at $68,239,000 after acquiring an additional 185,346 shares during the period. American Century Companies Inc. grew its stake in Ryder System by 89.3% in the second quarter. American Century Companies Inc. now owns 750,297 shares of the transportation company’s stock valued at $55,770,000 after acquiring an additional 354,029 shares during the period. Finally, Geode Capital Management LLC grew its stake in Ryder System by 5.2% in the first quarter. Geode Capital Management LLC now owns 659,898 shares of the transportation company’s stock valued at $49,921,000 after acquiring an additional 32,364 shares during the period. 87.01% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on R. Wells Fargo & Company raised their target price on Ryder System from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Robert W. Baird restated a “buy” rating and issued a $90.00 target price on shares of Ryder System in a report on Sunday, August 1st. Zacks Investment Research upgraded Ryder System from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a report on Tuesday, June 15th. Finally, Stifel Nicolaus assumed coverage on Ryder System in a report on Monday, June 21st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $81.67.
Ryder System (NYSE:R) last posted its quarterly earnings results on Wednesday, July 28th. The transportation company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $1.07. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ryder System had a return on equity of 12.96% and a net margin of 2.91%. As a group, equities analysts expect that Ryder System, Inc. will post 7.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Monday, August 23rd were given a $0.58 dividend. The ex-dividend date was Friday, August 20th. This is a boost from Ryder System’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 2.95%. Ryder System’s dividend payout ratio is -859.26%.
In related news, SVP Rajeev Ravindran sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $81.40, for a total value of $162,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.30% of the company’s stock.
Ryder System Profile
Ryder System, Inc engages in the provision of transportation and supply chain management solutions. It operates through the following segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), Dedicated Transportation Solutions (DTS), and Central Support Services (CSS). The FMS segment offers full service leasing and leasing with flexible maintenance options, commercial rental, and contract or transactional maintenance services of trucks, tractors, and trailers.
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