Intech Investment Management LLC Invests $416,000 in Ryder System, Inc. (NYSE:R)

Posted by Defense World Staff on Aug 28th, 2023

Intech Investment Management LLC acquired a new position in shares of Ryder System, Inc. (NYSE:R – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,659 shares of the transportation company’s stock, valued at approximately $416,000.

Several other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC acquired a new position in Ryder System in the 1st quarter valued at about $1,259,000. Vanguard Personalized Indexing Management LLC acquired a new position in Ryder System in the 1st quarter valued at about $618,000. Credit Suisse AG boosted its holdings in Ryder System by 1.2% in the 1st quarter. Credit Suisse AG now owns 61,433 shares of the transportation company’s stock valued at $5,482,000 after purchasing an additional 734 shares during the period. LPL Financial LLC boosted its holdings in Ryder System by 8.8% in the 1st quarter. LPL Financial LLC now owns 18,332 shares of the transportation company’s stock valued at $1,636,000 after purchasing an additional 1,483 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Ryder System by 4.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 49,775 shares of the transportation company’s stock valued at $4,442,000 after purchasing an additional 2,055 shares during the period. 83.62% of the stock is currently owned by institutional investors and hedge funds.

Ryder System Price Performance

Shares of NYSE:R opened at $96.92 on Monday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 8.40 and a beta of 1.57. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $92.18 and a 200 day simple moving average of $88.46. Ryder System, Inc. has a one year low of $65.69 and a one year high of $103.81.

Ryder System (NYSE:R – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.64. Ryder System had a net margin of 4.79% and a return on equity of 23.98%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company posted $4.43 EPS. The company’s revenue was down 4.9% on a year-over-year basis. Research analysts predict that Ryder System, Inc. will post 12.74 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 21st will be given a $0.71 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, August 18th. Ryder System’s dividend payout ratio is 24.61%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Robert W. Baird raised shares of Ryder System from a “neutral” rating to an “outperform” rating in a report on Monday, July 31st. Wells Fargo & Company upped their price target on shares of Ryder System from $80.00 to $100.00 in a report on Thursday, July 27th. Finally, StockNews.com started coverage on shares of Ryder System in a report on Thursday, August 17th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ryder System presently has an average rating of “Moderate Buy” and a consensus target price of $104.60.

Check Out Our Latest Report on Ryder System

Insider Buying and Selling at Ryder System

In other Ryder System news, insider Thomas M. Havens sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $100.32, for a total value of $902,880.00. Following the completion of the transaction, the insider now directly owns 31,008 shares in the company, valued at approximately $3,110,722.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Thomas M. Havens sold 9,000 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $100.32, for a total transaction of $902,880.00. Following the completion of the sale, the insider now directly owns 31,008 shares in the company, valued at $3,110,722.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert D. Fatovic sold 16,280 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $101.91, for a total transaction of $1,659,094.80. Following the sale, the executive vice president now owns 71,933 shares of the company’s stock, valued at $7,330,692.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,634 shares of company stock worth $16,265,337. 4.00% of the stock is currently owned by company insiders.

Ryder System Profile

(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.