State of Alaska Department of Revenue Raises Stock Holdings in Ryder System, Inc. (NYSE:R)

State of Alaska Department of Revenue increased its position in Ryder System, Inc. (NYSE:R) by 5.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,028 shares of the transportation company’s stock after purchasing an additional 240 shares during the period. State of Alaska Department of Revenue’s holdings in Ryder System were worth $733,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Ryder System by 120.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,437 shares of the transportation company’s stock valued at $413,000 after purchasing an additional 1,880 shares during the period. BNP Paribas Financial Markets increased its position in Ryder System by 76.9% during the 1st quarter. BNP Paribas Financial Markets now owns 75,344 shares of the transportation company’s stock valued at $9,056,000 after purchasing an additional 32,754 shares during the period. Janney Montgomery Scott LLC increased its position in Ryder System by 73.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,717 shares of the transportation company’s stock valued at $567,000 after purchasing an additional 1,990 shares during the period. Texas Permanent School Fund Corp increased its position in Ryder System by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,790 shares of the transportation company’s stock valued at $4,662,000 after purchasing an additional 501 shares during the period. Finally, AIA Group Ltd purchased a new position in Ryder System during the 1st quarter valued at $340,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

R has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Robert W. Baird boosted their target price on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Four 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, the company currently has an average rating of “Moderate Buy” and an average target price of $140.57.

Ryder System Stock Performance

Shares of Ryder System stock opened at $160.90 on Thursday. Ryder System, Inc. has a 1 year low of $99.65 and a 1 year high of $161.27. The firm’s 50-day moving average is $144.08 and its 200 day moving average is $132.88. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 15.06 and a beta of 1.28. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.74 and a quick ratio of 0.74.

Ryder System (NYSE:R) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.39 by $0.05. Ryder System had a net margin of 3.83% and a return on equity of 16.78%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm posted $3.58 EPS. Ryder System’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Ryder System, Inc. will post 12.01 EPS for the current fiscal year.

Ryder System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is 30.31%.

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.