Rhumbline Advisers Sells 5,237 Shares of Ryder System, Inc. (NYSE:R)

Rhumbline Advisers decreased its stake in shares of Ryder System, Inc. (NYSE:R) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 123,714 shares of the transportation company’s stock after selling 5,237 shares during the quarter. Rhumbline Advisers’ holdings in Ryder System were worth $15,326,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Ryder System by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,516 shares of the transportation company’s stock worth $4,510,000 after acquiring an additional 106 shares in the last quarter. CWM LLC raised its holdings in Ryder System by 17.9% in the second quarter. CWM LLC now owns 758 shares of the transportation company’s stock worth $94,000 after buying an additional 115 shares during the last quarter. Parallel Advisors LLC raised its holdings in Ryder System by 8.7% in the fourth quarter. Parallel Advisors LLC now owns 1,455 shares of the transportation company’s stock worth $167,000 after buying an additional 116 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in Ryder System by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 8,739 shares of the transportation company’s stock worth $1,083,000 after buying an additional 126 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Ryder System by 0.3% in the first quarter. Retirement Systems of Alabama now owns 55,658 shares of the transportation company’s stock worth $6,690,000 after buying an additional 146 shares during the last quarter. Institutional investors own 87.47% of the company’s stock.

Ryder System Stock Up 1.4 %

R opened at $133.90 on Tuesday. Ryder System, Inc. has a twelve month low of $91.31 and a twelve month high of $145.61. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 17.43 and a beta of 1.28. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.09. The firm has a 50 day moving average price of $133.61 and a 200-day moving average price of $124.17.

Ryder System (NYSE:R) last announced its earnings results on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.13. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company earned $3.61 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that Ryder System, Inc. will post 12.19 earnings per share for the current year.

Ryder System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 19th will be given a $0.81 dividend. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, August 19th. Ryder System’s dividend payout ratio is presently 42.19%.

Insiders Place Their Bets

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total value of $1,773,543.60. Following the completion of the transaction, the executive vice president now directly owns 47,779 shares in the company, valued at $6,656,570.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on R. Stephens began coverage on shares of Ryder System in a report on Monday, July 8th. They issued an “equal weight” rating for the company. StockNews.com cut shares of Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. Morgan Stanley began coverage on shares of Ryder System in a report on Monday, June 24th. They issued an “overweight” rating and a $165.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Robert W. Baird boosted their price objective on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ryder System presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.