Assenagon Asset Management S.A. Acquires Shares of 78,045 Ryder System, Inc. (NYSE:R)

Assenagon Asset Management S.A. acquired a new stake in Ryder System, Inc. (NYSE:R) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,045 shares of the transportation company’s stock, valued at approximately $12,242,000. Assenagon Asset Management S.A. owned 0.18% of Ryder System at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. UMB Bank n.a. boosted its position in shares of Ryder System by 43.2% during the third quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 80 shares in the last quarter. Truist Financial Corp grew its holdings in Ryder System by 0.6% during the 2nd quarter. Truist Financial Corp now owns 14,303 shares of the transportation company’s stock valued at $1,772,000 after buying an additional 90 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Ryder System by 4.7% in the 3rd quarter. MML Investors Services LLC now owns 2,078 shares of the transportation company’s stock worth $303,000 after purchasing an additional 94 shares during the period. Buckley Wealth Management LLC grew its stake in shares of Ryder System by 1.1% during the third quarter. Buckley Wealth Management LLC now owns 9,660 shares of the transportation company’s stock valued at $1,408,000 after buying an additional 105 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Ryder System by 20.2% in the third quarter. GAMMA Investing LLC now owns 708 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com downgraded Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their target price on shares of Ryder System from $160.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.43.

Ryder System Stock Performance

R stock opened at $165.49 on Friday. Ryder System, Inc. has a 1 year low of $106.62 and a 1 year high of $171.78. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 15.48 and a beta of 1.31. The stock’s fifty day moving average is $162.02 and its two-hundred day moving average is $147.49. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74.

Ryder System (NYSE:R) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.05. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. Ryder System had a net margin of 3.83% and a return on equity of 16.78%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.58 EPS. On average, research analysts predict that Ryder System, Inc. will post 12 EPS for the current year.

Insider Activity

In other news, insider Thomas M. Havens sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total transaction of $629,760.00. Following the completion of the transaction, the insider now owns 20,504 shares of the company’s stock, valued at approximately $3,228,149.76. This represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is currently owned by corporate 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.