Wedge Capital Management L L P NC Trims Stake in Ryder System, Inc. (NYSE:R)

Wedge Capital Management L L P NC cut its stake in Ryder System, Inc. (NYSE:R - Free Report) by 18.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,738 shares of the transportation company's stock after selling 20,006 shares during the quarter. Wedge Capital Management L L P NC owned about 0.20% of Ryder System worth $12,792,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Caxton Associates LP boosted its stake in Ryder System by 206.9% during the first quarter. Caxton Associates LP now owns 8,319 shares of the transportation company's stock valued at $1,000,000 after buying an additional 5,608 shares during the period. Janus Henderson Group PLC boosted its stake in Ryder System by 116.5% during the first quarter. Janus Henderson Group PLC now owns 47,459 shares of the transportation company's stock valued at $5,704,000 after buying an additional 25,533 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Ryder System by 41.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 49,303 shares of the transportation company's stock valued at $5,926,000 after buying an additional 14,360 shares during the period. Bayesian Capital Management LP bought a new stake in Ryder System during the first quarter valued at $463,000. Finally, Sei Investments Co. boosted its stake in Ryder System by 7.0% during the first quarter. Sei Investments Co. now owns 809,590 shares of the transportation company's stock valued at $97,301,000 after buying an additional 53,288 shares during the period. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ryder System

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the transaction, the executive vice president now directly owns 47,779 shares of the company's stock, valued at approximately $6,656,570.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.10% of the company's stock.

Wall Street Analyst Weigh In

R has been the subject of several research analyst reports. Morgan Stanley initiated coverage on Ryder System in a research note on Monday, June 24th. They set an "overweight" rating and a $165.00 price target for the company. Stephens initiated coverage on Ryder System in a report on Monday, July 8th. They issued an "equal weight" rating on the stock. StockNews.com downgraded Ryder System from a "buy" rating to a "hold" rating in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on Ryder System from $126.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, July 9th. Finally, Robert W. Baird lifted their price objective on Ryder System from $140.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Ryder System Price Performance

R stock traded down $0.80 during trading on Tuesday, reaching $150.77. The company's stock had a trading volume of 266,117 shares, compared to its average volume of 259,380. Ryder System, Inc. has a 1 year low of $91.31 and a 1 year high of $154.76. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $6.61 billion, a P/E ratio of 19.63 and a beta of 1.28. The company's fifty day moving average is $141.12 and its 200-day moving average is $129.60.

Ryder System (NYSE:R - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 EPS for the quarter, beating 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 business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. The business's revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Ryder System, Inc. will post 12.2 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, November 18th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, November 18th. Ryder System's dividend payout ratio (DPR) is presently 42.19%.

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.