Convergence Investment Partners LLC bought a new stake in Ryder System, Inc. (NYSE:R - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,235 shares of the transportation company's stock, valued at approximately $507,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC boosted its holdings in shares of Ryder System by 376.5% in the third quarter. Kovitz Investment Group Partners LLC now owns 9,764 shares of the transportation company's stock valued at $1,405,000 after acquiring an additional 7,715 shares in the last quarter. James Investment Research Inc. boosted its stake in Ryder System by 32.0% during the 4th quarter. James Investment Research Inc. now owns 12,374 shares of the transportation company's stock valued at $1,941,000 after purchasing an additional 2,999 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Ryder System by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company's stock valued at $20,724,000 after purchasing an additional 17,074 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Ryder System in the 4th quarter worth $12,242,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Ryder System by 83.0% in the third quarter. Janney Montgomery Scott LLC now owns 9,260 shares of the transportation company's stock valued at $1,350,000 after buying an additional 4,200 shares during the period. Institutional investors own 87.47% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on R. StockNews.com upgraded shares of Ryder System from a "hold" rating to a "buy" rating in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Ryder System from $176.00 to $174.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Ryder System from $160.00 to $183.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $157.00.
View Our Latest Stock Report on R
Ryder System Stock Down 0.8 %
Shares of Ryder System stock traded down $1.31 during trading on Friday, hitting $164.77. 325,258 shares of the stock traded hands, compared to its average volume of 360,127. The stock has a market cap of $6.93 billion, a P/E ratio of 14.85 and a beta of 1.29. The company has a fifty day moving average price of $160.54 and a two-hundred day moving average price of $152.74. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.75 and a current ratio of 0.75. Ryder System, Inc. has a twelve month low of $106.88 and a twelve month high of $171.78.
Ryder System (NYSE:R - Get Free Report) last released its earnings results on Wednesday, February 12th. The transportation company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.39 by $0.06. Ryder System had a net margin of 3.87% and a return on equity of 17.23%. Equities research analysts predict that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.
Ryder System Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, February 18th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, February 18th. Ryder System's dividend payout ratio (DPR) is presently 29.22%.
About Ryder System
(
Free Report)
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.
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