Fifth Third Bancorp boosted its position in Ryder System, Inc. (NYSE:R – Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,870 shares of the transportation company’s stock after acquiring an additional 1,050 shares during the period. Fifth Third Bancorp’s holdings in Ryder System were worth $1,862,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Ryder System by 13.6% during the first quarter. JPMorgan Chase & Co. now owns 193,131 shares of the transportation company’s stock worth $15,322,000 after buying an additional 23,111 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in Ryder System during the first quarter worth about $290,000. MetLife Investment Management LLC boosted its holdings in Ryder System by 33.3% during the first quarter. MetLife Investment Management LLC now owns 34,694 shares of the transportation company’s stock worth $2,752,000 after buying an additional 8,674 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ryder System by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,678 shares of the transportation company’s stock worth $1,561,000 after purchasing an additional 1,876 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of Ryder System by 12.5% during the first quarter. Great West Life Assurance Co. Can now owns 32,930 shares of the transportation company’s stock worth $2,691,000 after purchasing an additional 3,652 shares during the period. Institutional investors own 85.56% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on R shares. StockNews.com started coverage on Ryder System in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Stifel Nicolaus dropped their price target on Ryder System from $107.00 to $105.00 in a research report on Thursday, April 27th. Finally, Wells Fargo & Company dropped their price target on Ryder System from $100.00 to $80.00 in a research report on Thursday, April 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $99.00.
Ryder System Stock Down 0.2 %
Ryder System (NYSE:R – Get Free Report) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.15). The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.99 billion. Ryder System had a net margin of 6.86% and a return on equity of 26.40%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.59 earnings per share. On average, analysts predict that Ryder System, Inc. will post 11.79 earnings per share for the current fiscal year.
Ryder System Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Monday, May 22nd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, May 19th. This represents a $2.48 annualized dividend and a dividend yield of 2.93%. Ryder System’s dividend payout ratio is currently 14.90%.
Insider Transactions at Ryder System
In other news, Director E Follin Smith sold 1,044 shares of Ryder System stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $82.47, for a total transaction of $86,098.68. Following the completion of the transaction, the director now directly owns 41,184 shares in the company, valued at approximately $3,396,444.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director E Follin Smith sold 1,044 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $82.47, for a total value of $86,098.68. Following the completion of the sale, the director now directly owns 41,184 shares in the company, valued at approximately $3,396,444.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Luis P. Nieto, Jr. sold 2,112 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $83.29, for a total value of $175,908.48. Following the completion of the sale, the director now owns 27,779 shares of the company’s stock, valued at $2,313,712.91. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
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.
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