State of New Jersey Common Pension Fund D Boosts Position in Ryder System, Inc. (NYSE:R)
State of New Jersey Common Pension Fund D raised its stake in shares of Ryder System, Inc. (NYSE:R) by 183.3% during the second quarter, Holdings Channel reports. The fund owned 85,000 shares of the transportation company’s stock after buying an additional 55,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ryder System were worth $6,118,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in R. Private Advisor Group LLC acquired a new stake in Ryder System during the first quarter valued at approximately $116,000. LS Investment Advisors LLC raised its stake in Ryder System by 28.8% in the first quarter. LS Investment Advisors LLC now owns 2,473 shares of the transportation company’s stock valued at $187,000 after buying an additional 553 shares during the last quarter. Clear Investment Research LLC acquired a new stake in Ryder System during the second quarter valued at approximately $190,000. Creative Planning raised its stake in Ryder System by 10.0% in the second quarter. Creative Planning now owns 2,904 shares of the transportation company’s stock valued at $209,000 after buying an additional 264 shares during the last quarter. Finally, Boston Advisors LLC acquired a new stake in Ryder System during the first quarter valued at approximately $224,000. 92.87% of the stock is owned by hedge funds and other institutional investors.
Ryder System, Inc. (R) opened at 72.84 on Friday. The company has a market capitalization of $3.86 billion, a P/E ratio of 17.54 and a beta of 1.39. Ryder System, Inc. has a 52 week low of $62.03 and a 52 week high of $85.42. The company’s 50 day moving average price is $72.52 and its 200-day moving average price is $72.22.
Ryder System (NYSE:R) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.07. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ryder System had a return on equity of 11.71% and a net margin of 3.17%. Ryder System’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.56 earnings per share. Equities research analysts expect that Ryder System, Inc. will post $4.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be given a dividend of $0.46 per share. This is a boost from Ryder System’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, August 17th. Ryder System’s dividend payout ratio (DPR) is currently 42.21%.
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R has been the subject of a number of recent research reports. Seaport Global Securities initiated coverage on Ryder System in a research note on Friday, April 21st. They set a “neutral” rating for the company. BidaskClub upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded Ryder System from a “hold” rating to a “strong sell” rating in a research note on Friday, April 28th. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Stephens downgraded Ryder System from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $81.00 to $71.00 in a research note on Wednesday, April 26th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $77.00.
In other Ryder System news, insider Dennis C. Cooke sold 9,650 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $72.75, for a total value of $702,037.50. Following the sale, the insider now directly owns 2,883 shares of the company’s stock, valued at $209,738.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert E. Sanchez sold 26,275 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.43, for a total value of $1,903,098.25. Following the completion of the sale, the chief executive officer now directly owns 107,237 shares in the company, valued at $7,767,175.91. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by company insiders.
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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