Wedge Capital Management L L P NC Decreases Stock Holdings in Ryder System, Inc. (NYSE:R)

by · The Cerbat Gem

Wedge Capital Management L L P NC trimmed its holdings in shares of Ryder System, Inc. (NYSE:R – Free Report) by 18.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,738 shares of the transportation company’s stock after selling 20,006 shares during the quarter. Wedge Capital Management L L P NC owned 0.20% of Ryder System worth $12,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in Ryder System in the first quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in Ryder System in the second quarter worth $29,000. UMB Bank n.a. increased its position in Ryder System by 43.2% in the third quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock worth $39,000 after buying an additional 80 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Ryder System in the second quarter worth $51,000. Finally, Creekmur Asset Management LLC purchased a new stake in Ryder System in the fourth quarter worth $68,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

R has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Morgan Stanley initiated coverage on Ryder System in a report on Monday, June 24th. They issued an “overweight” rating and a $165.00 price target for the company. StockNews.com lowered Ryder System from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Finally, Stephens initiated coverage on Ryder System in a report on Monday, July 8th. They issued an “equal weight” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

View Our Latest Analysis on Ryder System

Ryder System Price Performance

NYSE:R opened at $151.57 on Tuesday. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 19.74 and a beta of 1.28. Ryder System, Inc. has a 52-week low of $91.31 and a 52-week high of $152.09. The stock has a fifty day moving average of $140.75 and a 200 day moving average of $129.39. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.74 and a current ratio of 0.74.

Ryder System (NYSE:R – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.13. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the company earned $3.61 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Ryder System, Inc. will post 12.2 EPS for the current fiscal year.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is currently 42.19%.

Insiders Place Their Bets

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of Ryder System stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the completion of the sale, the executive vice president now owns 47,779 shares of the company’s stock, valued at $6,656,570.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.10% of the company’s stock.

About Ryder System

(Free Report)

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.

Further Reading

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