Renaissance Technologies LLC boosted its position in shares of Ryder System, Inc. (NYSE:R) by 100.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,200 shares of the transportation company’s stock after buying an additional 176,800 shares during the period. Renaissance Technologies LLC’s holdings in Ryder System were worth $29,729,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Ryder System by 369.7% during the fourth quarter. Bessemer Group Inc. now owns 1,832 shares of the transportation company’s stock worth $154,000 after buying an additional 1,442 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Ryder System during the fourth quarter worth approximately $204,000. Loews Corp acquired a new position in Ryder System during the fourth quarter worth approximately $210,000. Alambic Investment Management L.P. acquired a new position in Ryder System during the fourth quarter worth approximately $210,000. Finally, King Luther Capital Management Corp acquired a new position in Ryder System during the third quarter worth approximately $221,000. 93.35% of the stock is currently owned by institutional investors.
R has been the topic of several research analyst reports. Zacks Investment Research raised Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday, January 15th. Buckingham Research reaffirmed a “buy” rating and set a $90.00 price target (down previously from $101.00) on shares of Ryder System in a research report on Tuesday, February 20th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Ryder System in a research report on Friday, February 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $73.00 price target (down previously from $94.00) on shares of Ryder System in a research report on Tuesday, February 20th. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Ryder System in a research report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $88.00.
Ryder System stock opened at $76.29 on Thursday. The stock has a market capitalization of $4,022.58, a P/E ratio of 16.80, a PEG ratio of 0.91 and a beta of 1.52. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.62. Ryder System, Inc. has a twelve month low of $62.52 and a twelve month high of $90.26.
Ryder System (NYSE:R) last released its earnings results on Friday, February 16th. The transportation company reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.84 billion. Ryder System had a return on equity of 10.47% and a net margin of 10.78%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. sell-side analysts forecast that Ryder System, Inc. will post 5.59 EPS for the current year.
Ryder System declared that its Board of Directors has authorized a share buyback program on Thursday, December 14th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th were issued a $0.52 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Ryder System’s previous quarterly dividend of $0.46. Ryder System’s payout ratio is presently 13.97%.
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About Ryder System
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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