Nomura Asset Management Co. Ltd. Trims Stock Position in Ryder System, Inc. (NYSE:R)

Nomura Asset Management Co. Ltd. decreased its position in Ryder System, Inc. (NYSE:R) by 34.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,677 shares of the transportation company’s stock after selling 868 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Ryder System were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in R. MML Investors Services LLC grew its holdings in shares of Ryder System by 4.7% during the 3rd quarter. MML Investors Services LLC now owns 2,078 shares of the transportation company’s stock worth $303,000 after purchasing an additional 94 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Ryder System by 376.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 9,764 shares of the transportation company’s stock worth $1,405,000 after buying an additional 7,715 shares during the period. Stifel Financial Corp increased its position in shares of Ryder System by 4.5% during the third quarter. Stifel Financial Corp now owns 28,552 shares of the transportation company’s stock valued at $4,163,000 after acquiring an additional 1,219 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Ryder System in the 3rd quarter valued at approximately $280,000. Finally, Quantinno Capital Management LP raised its stake in shares of Ryder System by 0.6% in the 3rd quarter. Quantinno Capital Management LP now owns 46,674 shares of the transportation company’s stock valued at $6,805,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 87.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, October 25th. StockNews.com cut Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price objective on Ryder System from $160.00 to $183.00 and gave the company a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.43.

Insiders Place Their Bets

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

Ryder System Stock Down 0.6 %

Ryder System stock opened at $165.67 on Monday. The firm has a market capitalization of $7.01 billion, a P/E ratio of 15.50 and a beta of 1.30. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.17. Ryder System, Inc. has a twelve month low of $106.62 and a twelve month high of $171.78. The stock’s fifty day simple moving average is $157.10 and its 200-day simple moving average is $141.08.

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

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be paid a $0.81 dividend. 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 dividend payout ratio is currently 30.31%.

About Ryder System

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.