Norges Bank Purchases New Holdings in Ryder System, Inc. (NYSE:R)

Norges Bank bought a new stake in Ryder System, Inc. (NYSE:R - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 623,766 shares of the transportation company's stock, valued at approximately $97,844,000. Norges Bank owned approximately 1.47% of Ryder System as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Keystone Financial Group Inc. purchased a new stake in shares of Ryder System in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in Ryder System during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ryder System in the third quarter valued at $34,000. R Squared Ltd acquired a new stake in shares of Ryder System during the fourth quarter valued at $45,000. Finally, Principal Securities Inc. raised its stake in Ryder System by 36.5% in the 4th quarter. Principal Securities Inc. now owns 344 shares of the transportation company's stock valued at $54,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on R shares. The Goldman Sachs Group boosted their price objective on shares of Ryder System from $160.00 to $183.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on Ryder System from $176.00 to $174.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, StockNews.com downgraded Ryder System from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Ryder System currently has an average rating of "Moderate Buy" and a consensus target price of $157.00.

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Ryder System Trading Down 3.4 %

Ryder System stock traded down $4.78 during midday trading on Friday, reaching $133.81. The stock had a trading volume of 676,773 shares, compared to its average volume of 299,924. The stock's 50-day simple moving average is $153.33 and its 200 day simple moving average is $155.36. Ryder System, Inc. has a twelve month low of $106.88 and a twelve month high of $171.78. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $5.59 billion, a PE ratio of 12.07 and a beta of 1.10.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.45 earnings per share for the quarter, beating analysts' consensus estimates of $3.39 by $0.06. Ryder System had a net margin of 3.87% and a return on equity of 17.23%. Analysts expect that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, February 18th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, February 18th. Ryder System's payout ratio is 29.22%.

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.