Redwood Investment Management LLC Boosts Stake in Ryder System, Inc. (NYSE:R)

Redwood Investment Management LLC lifted its holdings in Ryder System, Inc. (NYSE:R) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,563 shares of the transportation company’s stock after buying an additional 296 shares during the period. Redwood Investment Management LLC’s holdings in Ryder System were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ryder System by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock valued at $627,800,000 after acquiring an additional 109,930 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Ryder System by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock valued at $396,099,000 after purchasing an additional 890,986 shares during the period. Earnest Partners LLC boosted its position in shares of Ryder System by 2.4% in the 1st quarter. Earnest Partners LLC now owns 1,852,729 shares of the transportation company’s stock valued at $222,679,000 after purchasing an additional 43,592 shares during the period. LSV Asset Management boosted its position in shares of Ryder System by 3.8% in the 4th quarter. LSV Asset Management now owns 1,629,618 shares of the transportation company’s stock valued at $187,504,000 after purchasing an additional 59,156 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Ryder System by 7.0% in the 1st quarter. Sei Investments Co. now owns 809,590 shares of the transportation company’s stock valued at $97,301,000 after purchasing an additional 53,288 shares during the period. 87.47% of the stock is owned by hedge funds and other institutional investors.

Ryder System Price Performance

Ryder System stock traded up $0.82 during mid-day trading on Wednesday, hitting $140.16. 356,158 shares of the company were exchanged, compared to its average volume of 263,491. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50 day simple moving average is $124.68 and its two-hundred day simple moving average is $119.52. The company has a market capitalization of $6.07 billion, a P/E ratio of 18.25 and a beta of 1.29. Ryder System, Inc. has a 12-month low of $91.31 and a 12-month high of $143.17.

Ryder System (NYSE:R) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.13. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.61 earnings per share. Analysts forecast that Ryder System, Inc. will post 12.4 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 19th will be issued a $0.81 dividend. The ex-dividend date is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.31%. This is a boost from Ryder System’s previous quarterly dividend of $0.71. Ryder System’s dividend payout ratio (DPR) is presently 36.98%.

Wall Street Analysts Forecast Growth

R has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley assumed coverage on Ryder System in a report on Monday, June 24th. They issued an “overweight” rating and a $165.00 price target for the company. StockNews.com cut Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. Robert W. Baird raised their price target on Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group raised their price target on Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

Insider Activity at Ryder System

In other Ryder System news, insider Gallo-Aquino Cristina 425 shares of the business’s stock in a transaction on Monday, July 29th. The was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Robert E. Sanchez sold 18,303 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $126.20, for a total transaction of $2,309,838.60. Following the completion of the transaction, the chief executive officer now directly owns 125,969 shares of the company’s stock, valued at $15,897,287.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gallo-Aquino Cristina 425 shares of the firm’s stock in a transaction on Monday, July 29th. The disclosure for this trade can be found here. Insiders sold a total of 84,129 shares of company stock valued at $10,598,226 over the last three months. 5.10% of the stock is owned by insiders.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.