Wedge Capital Management L L P NC Sells 18,770 Shares of Ryder System, Inc. (NYSE:R)

Wedge Capital Management L L P NC reduced its position in Ryder System, Inc. (NYSE:R) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,430 shares of the transportation company’s stock after selling 18,770 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.25% of Ryder System worth $12,591,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in Ryder System during the fourth quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of Ryder System in the third quarter valued at about $26,000. CWM LLC raised its holdings in shares of Ryder System by 33.9% in the third quarter. CWM LLC now owns 438 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 111 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Ryder System by 406.0% in the third quarter. Exchange Traded Concepts LLC now owns 506 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 406 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Ryder System by 17.7% in the fourth quarter. Quent Capital LLC now owns 745 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 112 shares during the last quarter. 87.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Ryder System from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Vertical Research cut shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Wednesday, January 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $122.00 price target on shares of Ryder System in a research report on Thursday, February 15th. Stephens boosted their price target on shares of Ryder System from $110.00 to $113.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $140.00 target price on shares of Ryder System in a report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Ryder System presently has an average rating of “Hold” and an average price target of $120.00.

Ryder System Stock Up 9.9 %

NYSE:R traded up $10.78 on Tuesday, reaching $119.78. 70,359 shares of the stock traded hands, compared to its average volume of 251,352. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 13.72 and a beta of 1.40. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.80. Ryder System, Inc. has a 12 month low of $76.15 and a 12 month high of $121.58. The company’s fifty day simple moving average is $114.19 and its 200 day simple moving average is $110.43.

Ryder System (NYSE:R) last released its quarterly earnings data on Wednesday, February 14th. The transportation company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.20. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.98 billion. Ryder System had a net margin of 3.45% and a return on equity of 19.68%. Ryder System’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $3.89 EPS. Equities analysts predict that Ryder System, Inc. will post 11.9 EPS for the current fiscal year.

Ryder System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, February 16th. Ryder System’s payout ratio is 32.53%.

Insider Buying and Selling

In related news, CMO Karen M. Jones sold 7,737 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at $1,406,698.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.10% of the stock is currently owned by insiders.

Ryder System 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.