Ryder System, Inc. (NYSE:R) Holdings Lifted by Arizona State Retirement System

Arizona State Retirement System increased its holdings in Ryder System, Inc. (NYSE:R) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,393 shares of the transportation company’s stock after acquiring an additional 212 shares during the period. Arizona State Retirement System’s holdings in Ryder System were worth $1,535,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Ryder System by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock valued at $396,099,000 after acquiring an additional 890,986 shares in the last quarter. Norges Bank acquired a new position in Ryder System in the 4th quarter worth about $86,647,000. Sei Investments Co. raised its stake in shares of Ryder System by 29.1% during the 4th quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock worth $87,024,000 after purchasing an additional 170,650 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ryder System by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock valued at $627,800,000 after buying an additional 109,930 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Ryder System by 242.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 92,666 shares of the transportation company’s stock valued at $11,138,000 after buying an additional 65,609 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stephens initiated coverage on shares of Ryder System in a research 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. Vertical Research upgraded Ryder System from a “hold” rating to a “buy” rating and raised their target price for the company from $125.00 to $145.00 in a report on Friday, June 14th. Morgan Stanley assumed coverage on Ryder System in a research note on Monday, June 24th. They set an “overweight” rating and a $165.00 price target for the company. Finally, Robert W. Baird raised their price objective on Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Ryder System Stock Performance

Shares of NYSE R opened at $132.67 on Thursday. Ryder System, Inc. has a 12 month low of $91.31 and a 12 month high of $145.61. The company has a market cap of $5.74 billion, a P/E ratio of 17.27 and a beta of 1.28. The business’s 50 day moving average is $133.97 and its two-hundred day moving average is $124.36. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.09.

Ryder System (NYSE:R) last announced its earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the firm posted $3.61 earnings per share. Ryder System’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that Ryder System, Inc. will post 12.19 EPS for the current year.

Ryder System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 19th will be given a dividend of $0.81 per share. The ex-dividend date is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. Ryder System’s dividend payout ratio is currently 42.19%.

Insider Buying and Selling

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 stock was 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 owns 47,779 shares of the company’s stock, valued at approximately $6,656,570.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.10% of the stock is owned by company insiders.

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.