Nuveen Asset Management LLC Boosts Position in Ryder System, Inc. (NYSE:R)

Nuveen Asset Management LLC boosted its holdings in Ryder System, Inc. (NYSE:R – Get Rating) by 23.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 238,463 shares of the transportation company’s stock after buying an additional 46,013 shares during the period. Nuveen Asset Management LLC owned approximately 0.47% of Ryder System worth $18,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ryder System by 7.9% in the first quarter. Vanguard Group Inc. now owns 5,735,585 shares of the transportation company’s stock valued at $455,004,000 after buying an additional 421,132 shares during the period. State Street Corp raised its holdings in Ryder System by 5.9% in the first quarter. State Street Corp now owns 1,825,239 shares of the transportation company’s stock valued at $144,796,000 after buying an additional 101,962 shares during the period. LSV Asset Management raised its holdings in Ryder System by 6.5% in the third quarter. LSV Asset Management now owns 1,297,228 shares of the transportation company’s stock valued at $97,928,000 after buying an additional 79,100 shares during the period. Sei Investments Co. raised its holdings in Ryder System by 23.6% in the second quarter. Sei Investments Co. now owns 695,450 shares of the transportation company’s stock valued at $49,485,000 after buying an additional 132,707 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in Ryder System in the second quarter valued at approximately $44,623,000. Hedge funds and other institutional investors own 83.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Ryder System from a “buy” rating to a “strong-buy” rating in a report on Saturday. Wolfe Research upgraded shares of Ryder System from a “peer perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Tuesday, January 10th. Stephens lifted their price objective on shares of Ryder System from $91.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, February 16th. Robert W. Baird lifted their price objective on shares of Ryder System from $93.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Ryder System from $81.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, February 16th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ryder System currently has an average rating of “Moderate Buy” and a consensus price target of $95.17.

Ryder System Price Performance

R opened at $99.30 on Friday. The company has a market capitalization of $4.60 billion, a P/E ratio of 5.82 and a beta of 1.58. The company has a 50-day moving average of $92.80 and a 200-day moving average of $85.33. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.64 and a current ratio of 0.66. Ryder System, Inc. has a 1-year low of $61.71 and a 1-year high of $102.36.

Ryder System (NYSE:R – Get Rating) last issued its earnings results on Wednesday, February 15th. The transportation company reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.29. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3 billion. Ryder System had a net margin of 7.22% and a return on equity of 29.16%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.52 EPS. Equities analysts expect that Ryder System, Inc. will post 11.59 EPS for the current fiscal year.

Ryder System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Tuesday, February 21st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 17th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.50%. Ryder System’s dividend payout ratio (DPR) is presently 14.55%.

Ryder System announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 15th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Ryder System Company Profile

(Get Rating)

Ryder System, Inc is a logistics and transportation company, which engages in providing supply chain, dedicated transportation, and fleet management solutions. It operates through the following business segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS).