Rafferty Asset Management LLC Boosts Stock Position in Ryder System, Inc. (NYSE:R)

Rafferty Asset Management LLC increased its stake in Ryder System, Inc. (NYSE:R) by 120.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,206 shares of the transportation company’s stock after purchasing an additional 17,594 shares during the quarter. Rafferty Asset Management LLC owned about 0.06% of Ryder System worth $2,394,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Ryder System by 574.2% in the 1st quarter. FMR LLC now owns 583,279 shares of the transportation company’s stock worth $36,157,000 after purchasing an additional 496,769 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Ryder System by 11.0% during the first quarter. Commonwealth Equity Services LLC now owns 6,363 shares of the transportation company’s stock valued at $481,000 after buying an additional 632 shares during the period. Envestnet Asset Management Inc. grew its position in Ryder System by 38.6% during the first quarter. Envestnet Asset Management Inc. now owns 57,260 shares of the transportation company’s stock worth $4,332,000 after buying an additional 15,949 shares in the last quarter. Commerce Bank bought a new position in Ryder System in the 1st quarter worth about $388,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Ryder System by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 84,142 shares of the transportation company’s stock valued at $6,365,000 after acquiring an additional 710 shares in the last quarter. Institutional investors own 87.01% of the company’s stock.

In other Ryder System news, SVP Rajeev Ravindran sold 2,000 shares of the 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 Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is currently owned by insiders.

Shares of R stock opened at $78.56 on Friday. The stock has a market capitalization of $4.22 billion, a PE ratio of 16.10 and a beta of 1.98. Ryder System, Inc. has a 1-year low of $40.32 and a 1-year high of $89.65. The business has a 50-day moving average of $76.60 and a 200 day moving average of $77.20. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.59 and a quick ratio of 0.56.

Ryder System (NYSE:R) last released its quarterly earnings data on Wednesday, July 28th. The transportation company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $1.07. Ryder System had a return on equity of 12.96% and a net margin of 2.91%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.22 billion. Analysts anticipate that Ryder System, Inc. will post 7.48 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Monday, August 23rd were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 20th. This is a positive change from Ryder System’s previous quarterly dividend of $0.56. Ryder System’s dividend payout ratio (DPR) is -859.26%.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “strong-buy” rating and set a $88.00 target price for the company in a research report on Tuesday, June 15th. Wells Fargo & Company lifted their price objective on shares of Ryder System from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Stifel Nicolaus initiated coverage on Ryder System in a research note on Monday, June 21st. They issued a “hold” rating on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $90.00 price target on shares of Ryder System in a research note on Sunday, August 1st. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ryder System currently has an average rating of “Buy” and a consensus target price of $81.67.

Ryder System Company 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.

Further Reading: Growth and Income Funds

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

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