Arizona State Retirement System Trims Holdings in Ryder System, Inc. (NYSE:R)

Arizona State Retirement System decreased its holdings in Ryder System, Inc. (NYSE:R) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,131 shares of the transportation company’s stock after selling 431 shares during the quarter. Arizona State Retirement System’s holdings in Ryder System were worth $1,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of R. Raymond James Financial Inc. purchased a new stake in Ryder System in the 4th quarter valued at $6,868,000. HighTower Advisors LLC increased its stake in Ryder System by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 7,777 shares of the transportation company’s stock valued at $1,220,000 after buying an additional 240 shares during the period. Corient Private Wealth LLC increased its stake in Ryder System by 2.0% in the 4th quarter. Corient Private Wealth LLC now owns 6,994 shares of the transportation company’s stock valued at $1,097,000 after buying an additional 135 shares during the period. Thrivent Financial for Lutherans increased its stake in Ryder System by 70.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 17,511 shares of the transportation company’s stock valued at $2,747,000 after buying an additional 7,261 shares during the period. Finally, Xponance Inc. increased its stake in Ryder System by 8.4% in the 4th quarter. Xponance Inc. now owns 5,058 shares of the transportation company’s stock valued at $793,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Wall Street Analyst Weigh In

R has been the topic of several recent research reports. Robert W. Baird initiated coverage on shares of Ryder System in a research note on Tuesday, July 1st. They issued an “outperform” rating and a $186.00 price objective on the stock. Barclays initiated coverage on shares of Ryder System in a research note on Monday, June 9th. They issued an “overweight” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ryder System from $165.00 to $173.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Wolfe Research raised shares of Ryder System from a “peer perform” rating to an “outperform” rating and set a $159.00 price objective on the stock in a research note on Tuesday, July 1st. Finally, Susquehanna started coverage on shares of Ryder System in a research note on Tuesday. They set a “positive” rating and a $215.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.43.

Ryder System Stock Performance

NYSE:R opened at $169.76 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.21. Ryder System, Inc. has a fifty-two week low of $123.36 and a fifty-two week high of $177.40. The stock has a market cap of $7.02 billion, a PE ratio of 14.80 and a beta of 0.97. The firm’s fifty day simple moving average is $158.17 and its 200-day simple moving average is $153.25.

Ryder System (NYSE:R) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.14 EPS. Analysts expect that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 18th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.14%. This is a boost from Ryder System’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, August 18th. Ryder System’s dividend payout ratio is presently 28.25%.

Insider Transactions at Ryder System

In other Ryder System news, CEO Robert E. Sanchez sold 18,496 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total value of $2,880,382.08. Following the transaction, the chief executive officer directly owned 40,824 shares in the company, valued at approximately $6,357,521.52. This represents a 31.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director E Follin Smith sold 1,243 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $144.38, for a total transaction of $179,464.34. Following the completion of the transaction, the director owned 39,802 shares in the company, valued at approximately $5,746,612.76. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% 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, as well as digital and technology support services.