Ryder System, Inc. (NYSE:R) Position Reduced by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in shares of Ryder System, Inc. (NYSE:R) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,833 shares of the transportation company’s stock after selling 6,784 shares during the period. ProShare Advisors LLC owned 0.58% of Ryder System worth $31,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Ryder System by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock worth $627,800,000 after buying an additional 109,930 shares during the last quarter. Wellington Management Group LLP grew its position in Ryder System by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock worth $396,099,000 after buying an additional 890,986 shares during the last quarter. Earnest Partners LLC grew its position in Ryder System by 2.4% in the first quarter. Earnest Partners LLC now owns 1,852,729 shares of the transportation company’s stock worth $222,679,000 after buying an additional 43,592 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ryder System by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,722,222 shares of the transportation company’s stock worth $213,345,000 after buying an additional 31,550 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Ryder System by 1.9% in the second quarter. American Century Companies Inc. now owns 890,877 shares of the transportation company’s stock worth $110,362,000 after buying an additional 17,009 shares during the last quarter. Institutional investors own 87.47% of the company’s stock.

Ryder System Stock Down 1.3 %

R stock opened at $146.00 on Monday. 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 company has a 50-day moving average of $136.70 and a two-hundred day moving average of $125.85. Ryder System, Inc. has a 52-week low of $91.31 and a 52-week high of $148.10. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 19.01 and a beta of 1.28.

Ryder System (NYSE:R) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share 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 analyst estimates of $3.24 billion. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. Ryder System’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.61 earnings per share. As a group, equities research analysts anticipate that Ryder System, Inc. will post 12.19 EPS for the current year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Monday, August 19th were paid a $0.81 dividend. The ex-dividend date was Monday, August 19th. This is a boost from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 dividend on an annualized basis and a yield of 2.22%. Ryder System’s dividend payout ratio (DPR) is presently 42.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on R shares. JPMorgan Chase & Co. lowered their price objective on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley initiated 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 on the stock. Robert W. Baird boosted their price target on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Vertical Research raised shares of Ryder System from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $145.00 in a research note on Friday, June 14th. Finally, StockNews.com lowered shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.86.

Insider Transactions at Ryder System

In related news, EVP Francisco Jr. Lopez sold 12,730 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the completion of the transaction, the executive vice president now directly owns 47,779 shares in the company, valued at $6,656,570.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.10% of the company’s stock.

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.