Ryder System, Inc. (NYSE:R) Stock Position Lessened by HG Vora Capital Management LLC

HG Vora Capital Management LLC lessened its holdings in Ryder System, Inc. (NYSE:R) by 24.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,650,000 shares of the transportation company’s stock after selling 525,000 shares during the period. Ryder System accounts for approximately 17.6% of HG Vora Capital Management LLC’s portfolio, making the stock its 3rd largest holding. HG Vora Capital Management LLC’s holdings in Ryder System were worth $240,570,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Ryder System by 56.2% during the third quarter. FMR LLC now owns 781,519 shares of the transportation company’s stock valued at $113,945,000 after purchasing an additional 281,052 shares during the last quarter. Millennium Management LLC grew its position in Ryder System by 1,915.0% in the 2nd quarter. Millennium Management LLC now owns 103,935 shares of the transportation company’s stock worth $12,875,000 after purchasing an additional 98,777 shares during the period. Earnest Partners LLC grew its position in Ryder System by 3.4% in the 2nd quarter. Earnest Partners LLC now owns 1,915,544 shares of the transportation company’s stock worth $237,298,000 after purchasing an additional 62,815 shares during the period. Victory Capital Management Inc. grew its position in shares of Ryder System by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 460,134 shares of the transportation company’s stock valued at $57,001,000 after acquiring an additional 54,605 shares during the period. Finally, Sei Investments Co. grew its position in shares of Ryder System by 4.7% during the 2nd quarter. Sei Investments Co. now owns 847,581 shares of the transportation company’s stock valued at $104,997,000 after acquiring an additional 37,991 shares during the period. Institutional investors own 87.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research 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 stock. According to MarketBeat, Ryder System presently has an average rating of “Moderate Buy” and a consensus target price of $140.57.

Insiders Place Their Bets

In related news, insider Thomas M. Havens sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total transaction of $629,760.00. Following the sale, the insider now directly owns 20,504 shares of the company’s stock, valued at $3,228,149.76. This represents a 16.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.10% of the stock is owned by insiders.

Ryder System Stock Up 0.8 %

NYSE:R opened at $170.22 on Tuesday. The firm has a market capitalization of $7.20 billion, a P/E ratio of 15.92 and a beta of 1.30. Ryder System, Inc. has a 1-year low of $105.09 and a 1-year high of $171.78. The company’s fifty day moving average price is $153.06 and its 200-day moving average price is $138.05. 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 earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share (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 business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business earned $3.58 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ryder System, Inc. will post 12.01 EPS for the current year.

Ryder System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s dividend payout ratio (DPR) is presently 30.31%.

Ryder System Company 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.