State of New Jersey Common Pension Fund D Has $2.08 Million Stock Position in Ryder System, Inc. (NYSE:R)

State of New Jersey Common Pension Fund D cut its stake in shares of Ryder System, Inc. (NYSE:R) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,821 shares of the transportation company’s stock after selling 8,053 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ryder System were worth $2,084,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Ryder System by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,516 shares of the transportation company’s stock worth $4,510,000 after acquiring an additional 106 shares during the period. CWM LLC grew its position in shares of Ryder System by 17.9% during the 2nd quarter. CWM LLC now owns 758 shares of the transportation company’s stock worth $94,000 after purchasing an additional 115 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Ryder System by 8.7% in the fourth quarter. Parallel Advisors LLC now owns 1,455 shares of the transportation company’s stock valued at $167,000 after buying an additional 116 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Ryder System by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 8,739 shares of the transportation company’s stock valued at $1,083,000 after buying an additional 126 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Ryder System by 0.3% in the first quarter. Retirement Systems of Alabama now owns 55,658 shares of the transportation company’s stock valued at $6,690,000 after buying an additional 146 shares during the period. Institutional investors own 87.47% of the company’s stock.

Insider Activity

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of Ryder System stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total value of $1,773,543.60. Following the completion of the sale, the executive vice president now owns 47,779 shares in the company, valued at approximately $6,656,570.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.10% of the stock is currently owned by company insiders.

Ryder System Stock Down 1.3 %

Shares of NYSE R opened at $146.02 on Friday. The company has a 50 day simple moving average of $136.36 and a 200 day simple moving average of $125.45. The firm has a market cap of $6.32 billion, a PE ratio of 18.91 and a beta of 1.28. Ryder System, Inc. has a 1 year low of $91.31 and a 1 year high of $148.10. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.74 and a quick ratio of 0.74.

Ryder System (NYSE:R) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.13. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the business earned $3.61 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts forecast that Ryder System, Inc. will post 12.19 EPS for the current year.

Ryder System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Monday, August 19th were paid a $0.81 dividend. The ex-dividend date was Monday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.22%. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. Ryder System’s payout ratio is currently 42.19%.

Wall Street Analyst Weigh In

R has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of Ryder System in a research report on Monday, June 24th. They set an “overweight” rating and a $165.00 price objective for the company. StockNews.com lowered shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. Vertical Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and boosted their price objective for the company from $125.00 to $145.00 in a research report on Friday, June 14th. Robert W. Baird raised their target price on Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Stephens started coverage on Ryder System in a report on Monday, July 8th. They set an “equal weight” rating for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ryder System currently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

About Ryder System

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.