Louisiana State Employees Retirement System Cuts Stake in Ryder System, Inc. (NYSE:R)

Louisiana State Employees Retirement System reduced its stake in shares of Ryder System, Inc. (NYSE:R) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the transportation company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Ryder System were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC purchased a new position in shares of Ryder System in the third quarter valued at $207,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Ryder System by 79.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,962 shares of the transportation company’s stock valued at $578,000 after purchasing an additional 1,748 shares in the last quarter. Buckley Wealth Management LLC grew its holdings in shares of Ryder System by 1.1% in the third quarter. Buckley Wealth Management LLC now owns 9,660 shares of the transportation company’s stock valued at $1,408,000 after purchasing an additional 105 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Ryder System by 73.7% in the third quarter. Raymond James & Associates now owns 32,075 shares of the transportation company’s stock valued at $4,677,000 after purchasing an additional 13,613 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Ryder System by 13.0% in the third quarter. Blue Trust Inc. now owns 5,075 shares of the transportation company’s stock valued at $740,000 after purchasing an additional 584 shares in the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Ryder System Stock Up 2.6 %

NYSE:R opened at $148.86 on Thursday. Ryder System, Inc. has a twelve month low of $95.02 and a twelve month high of $154.76. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 19.38 and a beta of 1.28. The stock has a fifty day simple moving average of $143.45 and a 200-day simple moving average of $131.65. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.17.

Ryder System (NYSE:R) last released its earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.39 by $0.05. Ryder System had a return on equity of 16.78% and a net margin of 3.83%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the company earned $3.58 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts anticipate that Ryder System, Inc. will post 12.06 EPS for the current year.

Ryder System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.18%. Ryder System’s payout ratio is currently 42.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on R shares. Robert W. Baird raised their target price 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. StockNews.com lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday. Stephens started coverage on shares of Ryder System in a research note on Monday, July 8th. They set an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ryder System currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.57.

Ryder System 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.