M&T Bank Corp Trims Stock Position in Ryder System, Inc. (NYSE:R)

M&T Bank Corp lowered its position in Ryder System, Inc. (NYSE:R) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,941 shares of the transportation company’s stock after selling 259 shares during the period. M&T Bank Corp’s holdings in Ryder System were worth $279,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Earnest Partners LLC grew its stake in Ryder System by 2.4% in the fourth quarter. Earnest Partners LLC now owns 1,905,223 shares of the transportation company’s stock worth $298,853,000 after purchasing an additional 45,393 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Ryder System by 1.6% in the fourth quarter. Sei Investments Co. now owns 856,507 shares of the transportation company’s stock valued at $134,351,000 after buying an additional 13,529 shares in the last quarter. American Century Companies Inc. raised its stake in Ryder System by 0.3% during the 4th quarter. American Century Companies Inc. now owns 843,895 shares of the transportation company’s stock valued at $132,373,000 after purchasing an additional 2,121 shares during the period. FMR LLC increased its stake in shares of Ryder System by 3.1% in the fourth quarter. FMR LLC now owns 805,571 shares of the transportation company’s stock worth $126,362,000 after acquiring an additional 24,052 shares during the last quarter. Finally, Norges Bank bought a new stake in Ryder System in the fourth quarter worth $97,844,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on R shares. Susquehanna began coverage on shares of Ryder System in a research note on Tuesday. They set a “positive” rating and a $215.00 price objective on the stock. Baird R W raised shares of Ryder System to a “strong-buy” rating in a research note on Tuesday, July 1st. Stephens lowered their target price on shares of Ryder System from $168.00 to $150.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Wolfe Research upgraded shares of Ryder System from a “peer perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research note on Tuesday, July 1st. Finally, Barclays began coverage on shares of Ryder System in a research report on Monday, June 9th. They set an “overweight” rating and a $190.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ryder System currently has an average rating of “Moderate Buy” and a consensus price target of $179.43.

Ryder System Stock Up 0.3%

NYSE R opened at $171.99 on Friday. The stock has a fifty day moving average of $157.67 and a 200-day moving average of $153.17. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $7.11 billion, a P/E ratio of 14.99 and a beta of 0.97. Ryder System, Inc. has a 52 week low of $123.36 and a 52 week high of $177.40.

Ryder System (NYSE:R) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same period in the prior year, the business earned $2.14 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 18th will be given a dividend of $0.91 per share. This is an increase from Ryder System’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.12%. Ryder System’s payout ratio is presently 28.25%.

Insider Buying and Selling at Ryder System

In other Ryder System news, CEO Robert E. Sanchez sold 18,496 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the transaction, the chief executive officer owned 40,824 shares of the company’s stock, valued at approximately $6,357,521.52. This trade represents a 31.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director E Follin Smith sold 1,243 shares of Ryder System stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $144.38, for a total transaction of $179,464.34. Following the sale, the director owned 39,802 shares of the company’s stock, valued at approximately $5,746,612.76. The trade was a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

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.