Convergence Investment Partners LLC Takes $507,000 Position in Ryder System, Inc. (NYSE:R)

Convergence Investment Partners LLC purchased a new stake in shares of Ryder System, Inc. (NYSE:R) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,235 shares of the transportation company’s stock, valued at approximately $507,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in shares of Ryder System by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 26,963 shares of the transportation company’s stock worth $4,229,000 after purchasing an additional 297 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Ryder System by 1.0% during the fourth quarter. Truist Financial Corp now owns 14,586 shares of the transportation company’s stock worth $2,288,000 after buying an additional 142 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Ryder System during the 4th quarter valued at $215,000. Sanctuary Advisors LLC raised its stake in Ryder System by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 7,894 shares of the transportation company’s stock valued at $1,282,000 after purchasing an additional 68 shares during the last quarter. Finally, James Investment Research Inc. raised its stake in Ryder System by 32.0% during the 4th quarter. James Investment Research Inc. now owns 12,374 shares of the transportation company’s stock valued at $1,941,000 after purchasing an additional 2,999 shares during the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on R. StockNews.com raised shares of Ryder System from a “hold” rating to a “buy” rating in a research report on Monday. The Goldman Sachs Group upped their price target on Ryder System from $160.00 to $183.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on Ryder System from $176.00 to $174.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.00.

Ryder System Stock Down 1.7 %

Shares of NYSE:R opened at $167.93 on Thursday. Ryder System, Inc. has a 12 month low of $106.88 and a 12 month high of $171.78. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.14. The company’s 50-day moving average price is $160.55 and its two-hundred day moving average price is $152.64. The firm has a market cap of $7.07 billion, a P/E ratio of 15.14 and a beta of 1.29.

Ryder System (NYSE:R) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.39 by $0.06. Ryder System had a net margin of 3.87% and a return on equity of 17.23%. As a group, research analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, February 18th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, February 18th. Ryder System’s dividend payout ratio is 29.22%.

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.