ProShare Advisors LLC Has $31.57 Million Stake in Ryder System, Inc. (NYSE:R)

ProShare Advisors LLC reduced its position in shares of Ryder System, Inc. (NYSE:R) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,833 shares of the transportation company’s stock after selling 6,784 shares during the period. ProShare Advisors LLC’s holdings in Ryder System were worth $31,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Ryder System in the 4th quarter valued at $86,647,000. Franklin Resources Inc. increased its holdings in Ryder System by 1.3% during the 4th quarter. Franklin Resources Inc. now owns 107,710 shares of the transportation company’s stock worth $12,393,000 after purchasing an additional 1,416 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Ryder System by 17.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,103 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 314 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Ryder System by 449.3% in the fourth quarter. Hsbc Holdings PLC now owns 62,785 shares of the transportation company’s stock valued at $7,199,000 after acquiring an additional 51,356 shares in the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in Ryder System by 5.6% during the fourth quarter. Hilltop Holdings Inc. now owns 7,095 shares of the transportation company’s stock valued at $816,000 after purchasing an additional 379 shares during the period. 87.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on R. JPMorgan Chase & Co. dropped their target price on Ryder System from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Stephens began coverage on shares of Ryder System in a report on Monday, July 8th. They issued an “equal weight” rating for the company. Morgan Stanley began coverage on shares of Ryder System in a report on Monday, June 24th. They set an “overweight” rating and a $165.00 target price for the company. Vertical Research raised shares of Ryder System from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a research report on Friday, June 14th. Finally, StockNews.com downgraded shares of Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Ryder System Trading Down 1.3 %

NYSE:R opened at $146.00 on Monday. The company has a market capitalization of $6.40 billion, a P/E ratio of 19.01 and a beta of 1.28. The firm has a fifty day simple moving average of $136.70 and a 200-day simple moving average of $125.85. Ryder System, Inc. has a 12 month low of $91.31 and a 12 month high of $148.10. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09.

Ryder System (NYSE:R) last released its earnings results on Thursday, July 25th. The transportation company reported $3.00 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 during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company earned $3.61 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Ryder System, Inc. will post 12.19 earnings per share for the current year.

Ryder System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Monday, August 19th were issued a $0.81 dividend. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 19th. Ryder System’s dividend payout ratio is currently 42.19%.

Insider Buying and Selling

In related news, EVP Francisco Jr. Lopez sold 12,730 shares of the stock in a transaction 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 transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is available at this link. 5.10% of the stock is owned by insiders.

About Ryder System

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.