Pzena Investment Management LLC Buys New Holdings in Ryder System, Inc. (R)
Pzena Investment Management LLC bought a new position in Ryder System, Inc. (NYSE:R) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 563,280 shares of the transportation company’s stock, valued at approximately $47,625,000. Pzena Investment Management LLC owned approximately 1.06% of Ryder System as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Ryder System by 41.7% in the second quarter. BlackRock Inc. now owns 5,010,932 shares of the transportation company’s stock worth $360,685,000 after purchasing an additional 1,475,138 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in Ryder System in the third quarter worth $15,480,000. Arrowstreet Capital Limited Partnership bought a new stake in Ryder System in the second quarter worth $11,423,000. Schroder Investment Management Group increased its position in Ryder System by 20.1% in the second quarter. Schroder Investment Management Group now owns 875,380 shares of the transportation company’s stock worth $62,896,000 after purchasing an additional 146,745 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Ryder System by 238.3% in the second quarter. JPMorgan Chase & Co. now owns 207,424 shares of the transportation company’s stock worth $14,929,000 after purchasing an additional 146,118 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
Ryder System, Inc. (R) traded up $0.01 during mid-day trading on Friday, reaching $78.92. 386,623 shares of the company’s stock were exchanged, compared to its average volume of 759,662. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.02 and a quick ratio of 0.96. Ryder System, Inc. has a fifty-two week low of $62.52 and a fifty-two week high of $85.50. The company has a market capitalization of $4,178.10, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.51.
Ryder System (NYSE:R) last posted its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. equities research analysts forecast that Ryder System, Inc. will post 4.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Friday, November 17th. Ryder System’s payout ratio is presently 49.86%.
In other news, CMO Karen M. Jones sold 4,790 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $81.78, for a total value of $391,726.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dennis C. Cooke sold 32,328 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $81.46, for a total transaction of $2,633,438.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,620 shares of company stock worth $3,353,856. Company insiders own 1.95% of the company’s stock.
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Several equities research analysts recently weighed in on R shares. Buckingham Research boosted their price target on shares of Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. ValuEngine cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Tuesday, October 31st. Finally, Aegis reiterated a “buy” rating and set a $91.00 price objective (up previously from $84.00) on shares of Ryder System in a research report on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $85.00.
Ryder System Company Profile
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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