Skandinaviska Enskilda Banken AB publ bought a new stake in Ryder System, Inc. (NYSE:R) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 170,400 shares of the transportation company’s stock, valued at approximately $12,451,000. Skandinaviska Enskilda Banken AB publ owned approximately 0.32% of Ryder System at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Ryder System by 4.7% during the second quarter. BlackRock Inc. now owns 6,325,825 shares of the transportation company’s stock worth $454,573,000 after purchasing an additional 282,892 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Ryder System by 25.8% during the second quarter. Pzena Investment Management LLC now owns 2,086,223 shares of the transportation company’s stock worth $149,916,000 after purchasing an additional 427,482 shares during the period. LSV Asset Management lifted its holdings in shares of Ryder System by 5.8% during the second quarter. LSV Asset Management now owns 1,889,814 shares of the transportation company’s stock worth $135,802,000 after purchasing an additional 102,980 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Ryder System by 3.9% during the second quarter. Wells Fargo & Company MN now owns 1,365,424 shares of the transportation company’s stock worth $98,119,000 after purchasing an additional 51,703 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ryder System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 701,320 shares of the transportation company’s stock worth $50,396,000 after purchasing an additional 3,253 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.
R stock opened at $56.35 on Friday. The firm has a market capitalization of $3.05 billion, a P/E ratio of 10.76 and a beta of 1.63. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 1.86. Ryder System, Inc. has a 12-month low of $53.97 and a 12-month high of $90.26.
Ryder System (NYSE:R) last released its earnings results on Friday, October 26th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.01). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Ryder System had a net margin of 9.98% and a return on equity of 9.88%. Ryder System’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 EPS. Equities analysts anticipate that Ryder System, Inc. will post 5.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Monday, November 19th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, November 16th. Ryder System’s dividend payout ratio (DPR) is currently 47.68%.
R has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday, August 21st. ValuEngine lowered shares of Ryder System from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. Stifel Nicolaus boosted their target price on shares of Ryder System from $76.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, July 26th. Buckingham Research dropped their target price on shares of Ryder System from $91.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, October 12th. Finally, Mizuho restated a “buy” rating and issued a $90.00 target price on shares of Ryder System in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Ryder System has a consensus rating of “Hold” and an average target price of $79.82.
In other Ryder System news, insider John J. Diez sold 6,520 shares of Ryder System stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $79.44, for a total value of $517,948.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David G. Nord purchased 2,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was bought at an average cost of $57.24 per share, with a total value of $114,480.00. Following the completion of the purchase, the director now owns 3,990 shares of the company’s stock, valued at approximately $228,387.60. The disclosure for this purchase can be found here. Insiders own 2.27% of the company’s stock.
Ryder System 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 ancillary maintenance and fleet support services.
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