NewEdge Wealth LLC Raises Stake in Ryder System, Inc. $R

NewEdge Wealth LLC lifted its position in Ryder System, Inc. (NYSE:R) by 11.0% in the first quarter, HoldingsChannel.com reports. The firm owned 277,942 shares of the transportation company’s stock after purchasing an additional 27,608 shares during the quarter. NewEdge Wealth LLC’s holdings in Ryder System were worth $56,898,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Quantum Portfolio Management LLC raised its holdings in Ryder System by 2.1% during the first quarter. Quantum Portfolio Management LLC now owns 2,564 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 52 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in shares of Ryder System by 2.4% in the fourth quarter. Orion Porfolio Solutions LLC now owns 2,262 shares of the transportation company’s stock worth $433,000 after buying an additional 52 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Ryder System by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 7,337 shares of the transportation company’s stock worth $1,404,000 after acquiring an additional 58 shares during the last quarter. Vectors Research Management LLC grew its stake in Ryder System by 0.3% during the fourth quarter. Vectors Research Management LLC now owns 18,512 shares of the transportation company’s stock valued at $3,543,000 after acquiring an additional 61 shares in the last quarter. Finally, Burns Matteson Capital Management LLC grew its stake in Ryder System by 2.4% during the fourth quarter. Burns Matteson Capital Management LLC now owns 2,657 shares of the transportation company’s stock valued at $509,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Ryder System Price Performance

R stock opened at $276.85 on Thursday. Ryder System, Inc. has a 52 week low of $157.67 and a 52 week high of $284.25. The firm has a market capitalization of $10.71 billion, a P/E ratio of 23.01 and a beta of 1.01. The company has a fifty day simple moving average of $260.83 and a two-hundred day simple moving average of $228.21. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.09.

Ryder System (NYSE:R) last posted its earnings results on Thursday, April 23rd. The transportation company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.25. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $3.11 billion. Ryder System had a net margin of 3.91% and a return on equity of 17.75%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 EPS. Analysts anticipate that Ryder System, Inc. will post 14.73 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Monday, August 24th will be given a $1.01 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.91. This represents a $4.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 24th. Ryder System’s dividend payout ratio (DPR) is 30.26%.

Insider Activity at Ryder System

In other Ryder System news, Director Luis P. Nieto, Jr. sold 720 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $235.79, for a total transaction of $169,768.80. Following the sale, the director directly owned 29,974 shares in the company, valued at $7,067,569.46. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Sanford J. Hodes sold 595 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $251.95, for a total value of $149,910.25. Following the completion of the sale, the senior vice president directly owned 22,948 shares of the company’s stock, valued at $5,781,748.60. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on R. Morgan Stanley boosted their price target on shares of Ryder System from $263.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Stephens raised Ryder System to a “strong-buy” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. Citizens Jmp assumed coverage on Ryder System in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company lifted their price objective on Ryder System from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $265.00.

About Ryder System

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.