Pzena Investment Management LLC boosted its holdings in shares of Ryder System, Inc. (NYSE:R) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,341,136 shares of the transportation company’s stock after purchasing an additional 169,329 shares during the period. Pzena Investment Management LLC owned approximately 4.39% of Ryder System worth $136,488,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in Ryder System by 574.2% in the 1st quarter. FMR LLC now owns 583,279 shares of the transportation company’s stock valued at $36,157,000 after buying an additional 496,769 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in Ryder System by 84.1% in the first quarter. Deprince Race & Zollo Inc. now owns 852,176 shares of the transportation company’s stock valued at $52,826,000 after acquiring an additional 389,263 shares during the period. Raymond James & Associates lifted its holdings in Ryder System by 1,305.6% in the first quarter. Raymond James & Associates now owns 153,109 shares of the transportation company’s stock valued at $9,491,000 after acquiring an additional 142,216 shares during the period. LSV Asset Management lifted its holdings in Ryder System by 5.8% in the first quarter. LSV Asset Management now owns 2,051,043 shares of the transportation company’s stock valued at $127,144,000 after acquiring an additional 112,431 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Ryder System by 26.4% in the first quarter. Westfield Capital Management Co. LP now owns 531,993 shares of the transportation company’s stock valued at $32,978,000 after acquiring an additional 111,030 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Karen M. Jones sold 1,767 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $52.21, for a total transaction of $92,255.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.
Ryder System (NYSE:R) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.40. Ryder System had a net margin of 3.60% and a return on equity of 11.46%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm earned $1.42 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Ryder System, Inc. will post 5.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders 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 4.71%. 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 dividend payout ratio is 37.31%.
A number of research firms have weighed in on R. KeyCorp lowered their target price on Ryder System from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. TheStreet cut Ryder System from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. Zacks Investment Research upgraded Ryder System from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. ValuEngine cut Ryder System from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. Finally, SunTrust Banks cut their price target on Ryder System to $65.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $73.50.
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 fleet support services.
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