Victory Capital Management Inc. Decreases Stock Holdings in Ryder System, Inc. (NYSE:R)

Victory Capital Management Inc. lowered its stake in Ryder System, Inc. (NYSE:R) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 420,564 shares of the transportation company’s stock after selling 39,570 shares during the quarter. Victory Capital Management Inc. owned 0.99% of Ryder System worth $61,318,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Wolff Wiese Magana LLC bought a new position in shares of Ryder System in the 3rd quarter worth approximately $28,000. EntryPoint Capital LLC purchased a new position in Ryder System during the first quarter valued at $25,000. Altshuler Shaham Ltd bought a new stake in shares of Ryder System in the second quarter worth about $29,000. UMB Bank n.a. raised its holdings in shares of Ryder System by 43.2% during the 3rd quarter. UMB Bank n.a. now owns 265 shares of the transportation company’s stock worth $39,000 after acquiring an additional 80 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Ryder System during the 2nd quarter valued at approximately $51,000. Institutional investors own 87.47% of the company’s stock.

Wall Street Analyst Weigh In

R has been the topic of several research reports. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of Ryder System from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ryder System has a consensus rating of “Moderate Buy” and a consensus target price of $140.57.

Ryder System Price Performance

Ryder System stock opened at $165.66 on Friday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 15.50 and a beta of 1.28. The company’s fifty day moving average price is $147.28 and its 200 day moving average price is $134.85. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74. Ryder System, Inc. has a 1 year low of $104.44 and a 1 year high of $170.20.

Ryder System (NYSE:R) last issued its earnings results on Thursday, October 24th. The transportation company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.05. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Ryder System had a net margin of 3.83% and a return on equity of 16.78%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.58 earnings per share. As a group, equities research analysts anticipate that Ryder System, Inc. will post 12.01 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The business 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. The ex-dividend date is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a yield of 1.96%. Ryder System’s payout ratio is 30.31%.

Insiders Place Their Bets

In related news, insider Thomas M. Havens sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $157.44, for a total value of $629,760.00. Following the completion of the transaction, the insider now directly owns 20,504 shares in the company, valued at approximately $3,228,149.76. This represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.10% of the stock is currently owned by corporate insiders.

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.