Pinnacle Associates Ltd. Grows Stock Holdings in Ryder System, Inc. (NYSE:R)

Pinnacle Associates Ltd. raised its position in shares of Ryder System, Inc. (NYSE:R) by 21.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,455 shares of the transportation company’s stock after purchasing an additional 2,050 shares during the period. Pinnacle Associates Ltd.’s holdings in Ryder System were worth $668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its holdings in shares of Ryder System by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 69,328 shares of the transportation company’s stock valued at $4,042,000 after buying an additional 183 shares in the last quarter. Nordea Investment Management AB raised its position in Ryder System by 3.8% during the 1st quarter. Nordea Investment Management AB now owns 67,335 shares of the transportation company’s stock worth $4,173,000 after buying an additional 2,434 shares during the last quarter. Rothschild & Co. Asset Management US Inc. raised its position in Ryder System by 3.8% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 309,203 shares of the transportation company’s stock worth $19,167,000 after buying an additional 11,386 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ryder System during the 1st quarter worth $510,000. Finally, Allstate Corp purchased a new position in Ryder System during the 1st quarter worth $207,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

NYSE R opened at $46.63 on Friday. Ryder System, Inc. has a one year low of $44.80 and a one year high of $79.95. The company’s 50 day moving average price is $53.12 and its 200 day moving average price is $58.26. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.56 and a current ratio of 0.59. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 8.15 and a beta of 1.81.

Ryder System (NYSE:R) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.40. Ryder System had a net margin of 3.60% and a return on equity of 11.46%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $1.42 earnings per share. Ryder System’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts forecast that Ryder System, Inc. will post 5.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 16th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, August 16th. This is a positive change from Ryder System’s previous quarterly dividend of $0.54. Ryder System’s payout ratio is 38.69%.

A number of brokerages have recently issued reports on R. ValuEngine downgraded shares of Ryder System from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. SunTrust Banks cut their price target on shares of Ryder System to $65.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. TheStreet downgraded shares of Ryder System from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. KeyCorp cut their price target on shares of Ryder System from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Finally, Loop Capital downgraded shares of Ryder System from a “buy” rating to a “hold” rating and cut their price target for the company from $70.00 to $62.00 in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.57.

In related news, EVP Karen M. Jones sold 1,767 shares of Ryder System stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $52.21, for a total value of $92,255.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Ryder System Company Profile

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.

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Institutional Ownership by Quarter for Ryder System (NYSE:R)

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