Ronald Blue Trust Inc. Lowers Position in Ryder System, Inc. (NYSE:R)

Posted by Defense World Staff on Sep 30th, 2023

Ronald Blue Trust Inc. trimmed its stake in Ryder System, Inc. (NYSE:R – Free Report) by 90.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 404 shares of the transportation company’s stock after selling 3,708 shares during the quarter. Ronald Blue Trust Inc.’s holdings in Ryder System were worth $36,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of R. Moneta Group Investment Advisors LLC grew its holdings in Ryder System by 115,284.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,378,461 shares of the transportation company’s stock valued at $282,338,000 after purchasing an additional 3,375,533 shares during the period. Norges Bank purchased a new stake in Ryder System during the fourth quarter worth approximately $61,907,000. Envestnet Asset Management Inc. grew its stake in Ryder System by 1,077.7% during the first quarter. Envestnet Asset Management Inc. now owns 578,044 shares of the transportation company’s stock worth $3,601,000 after buying an additional 528,961 shares during the period. AQR Capital Management LLC grew its stake in Ryder System by 1,617.3% during the first quarter. AQR Capital Management LLC now owns 474,832 shares of the transportation company’s stock worth $41,676,000 after buying an additional 447,182 shares during the period. Finally, Vanguard Group Inc. grew its stake in Ryder System by 7.9% during the first quarter. Vanguard Group Inc. now owns 5,735,585 shares of the transportation company’s stock worth $455,004,000 after buying an additional 421,132 shares during the period. 83.62% of the stock is currently owned by hedge funds and other institutional investors.

Ryder System Price Performance

Shares of R stock opened at $106.95 on Friday. The company has a market capitalization of $4.87 billion, a PE ratio of 9.27 and a beta of 1.58. The firm has a fifty day simple moving average of $100.14 and a 200-day simple moving average of $89.37. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 1.68. Ryder System, Inc. has a twelve month low of $72.48 and a twelve month high of $107.90.

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

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 21st were issued a $0.71 dividend. The ex-dividend date was Friday, August 18th. 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 2.66%. Ryder System’s dividend payout ratio is currently 24.61%.

Insider Activity at Ryder System

In related news, insider Thomas M. Havens sold 9,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 31,008 shares of the company’s stock, valued at $3,110,722.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ryder System 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 sale, the insider now directly owns 31,008 shares of the company’s stock, valued at $3,110,722.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 71,933 shares in the company, valued at $7,330,692.03. The disclosure for this sale can be found here. Insiders have sold 171,634 shares of company stock valued at $17,271,137 over the last ninety days. Corporate insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

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

Get Our Latest Report on R

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.