L & S Advisors Inc acquired a new position in Ryder System, Inc. (NYSE:R) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,735 shares of the transportation company’s stock, valued at approximately $1,246,000.
A number of other hedge funds have also recently modified their holdings of the business. AMP Capital Investors Ltd bought a new stake in shares of Ryder System in the 3rd quarter worth about $566,000. Allianz Asset Management GmbH increased its position in shares of Ryder System by 0.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 131,610 shares of the transportation company’s stock worth $11,128,000 after purchasing an additional 843 shares during the last quarter. King Luther Capital Management Corp bought a new stake in shares of Ryder System in the 3rd quarter worth about $221,000. Impala Asset Management LLC bought a new stake in shares of Ryder System in the 3rd quarter worth about $23,404,000. Finally, Artisan Partners Limited Partnership increased its position in shares of Ryder System by 3.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,788,271 shares of the transportation company’s stock worth $151,198,000 after purchasing an additional 53,772 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.
In other Ryder System news, EVP John J. Gleason sold 8,760 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $78.30, for a total value of $685,908.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert D. Fatovic sold 17,755 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $82.44, for a total transaction of $1,463,722.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,633 shares of company stock valued at $5,174,795. 1.95% of the stock is owned by insiders.
Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. analysts expect that Ryder System, Inc. will post 4.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 20th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 17th. Ryder System’s dividend payout ratio (DPR) is 49.86%.
A number of equities research analysts recently weighed in on R shares. Zacks Investment Research raised shares of Ryder System from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, September 26th. Buckingham Research boosted their price objective on shares of Ryder System from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. ValuEngine downgraded shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. J P Morgan Chase & Co boosted their price objective on shares of Ryder System from $69.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Finally, BidaskClub raised shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.00.
About Ryder System
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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