California Public Employees Retirement System Lowers Holdings in Ryder System, Inc. (NYSE:R)

California Public Employees Retirement System cut its holdings in Ryder System, Inc. (NYSE:RGet Rating) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 105,148 shares of the transportation company’s stock after selling 7,827 shares during the quarter. California Public Employees Retirement System’s holdings in Ryder System were worth $7,472,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in shares of Ryder System by 146.6% during the 1st quarter. Signaturefd LLC now owns 429 shares of the transportation company’s stock worth $34,000 after acquiring an additional 255 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Ryder System during the 1st quarter worth approximately $51,000. Charter Oak Capital Management LLC purchased a new stake in shares of Ryder System during the 2nd quarter worth approximately $54,000. Ellevest Inc. raised its holdings in shares of Ryder System by 818.9% during the 2nd quarter. Ellevest Inc. now owns 873 shares of the transportation company’s stock worth $62,000 after acquiring an additional 778 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Ryder System during the 2nd quarter worth approximately $65,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ryder System

In other Ryder System news, CFO John J. Diez sold 2,573 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $80.78, for a total value of $207,846.94. Following the completion of the sale, the chief financial officer now directly owns 69,757 shares in the company, valued at $5,634,970.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Ryder System news, EVP Robert D. Fatovic sold 16,808 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $81.26, for a total value of $1,365,818.08. Following the sale, the executive vice president now directly owns 47,367 shares of the company’s stock, valued at $3,849,042.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John J. Diez sold 2,573 shares of Ryder System stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $80.78, for a total value of $207,846.94. Following the completion of the sale, the chief financial officer now directly owns 69,757 shares in the company, valued at $5,634,970.46. The disclosure for this sale can be found here. Insiders have sold a total of 120,372 shares of company stock valued at $9,746,884 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stephens upped their price objective on Ryder System from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, October 27th. Robert W. Baird increased their price target on Ryder System to $87.00 in a report on Thursday, October 27th. Finally, StockNews.com lowered Ryder System from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.00.

Ryder System Stock Performance

Shares of Ryder System stock opened at $93.93 on Thursday. The stock’s fifty day moving average is $79.85 and its two-hundred day moving average is $77.83. The company has a market capitalization of $4.72 billion, a PE ratio of 5.79 and a beta of 1.57. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 1.76. Ryder System, Inc. has a 52 week low of $61.71 and a 52 week high of $94.69.

Ryder System (NYSE:RGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The transportation company reported $4.45 EPS for the quarter, beating the consensus estimate of $3.70 by $0.75. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.96 billion. Ryder System had a return on equity of 29.45% and a net margin of 7.31%. Ryder System’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 EPS. As a group, analysts expect that Ryder System, Inc. will post 16.01 earnings per share for the current year.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, November 21st will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, November 18th. Ryder System’s payout ratio is 15.29%.

Ryder System Profile

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Ryder System, Inc operates as a logistics and transportation company worldwide. The company 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, 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.

Further Reading

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

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