Palouse Capital Management buys $7,592,088 stake in Ryder System (R)

Ryder System (R) : Palouse Capital Management scooped up 2,113 additional shares in Ryder System during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 115,839 shares of Ryder System which is valued at $7,592,088.Ryder System makes up approximately 3.15% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , Gargoyle Investment Advisor L.l.c. added R to its portfolio by purchasing 39,512 company shares during the most recent quarter which is valued at $2,589,616. Ryder System makes up approx 0.90% of Gargoyle Investment Advisor L.l.c.’s portfolio. Heartland Advisors Inc sold out all of its stake in R during the most recent quarter. The investment firm sold 15,359 shares of R which is valued $1,056,699.Burney Co boosted its stake in R in the latest quarter, The investment management firm added 4,260 additional shares and now holds a total of 36,425 shares of Ryder System which is valued at $2,506,040. Ryder System makes up approx 0.18% of Burney Co’s portfolio.Washington Trust Bank reduced its stake in R by selling 401 shares or 24.17% in the most recent quarter. The Hedge Fund company now holds 1,258 shares of R which is valued at $86,701. Ryder System makes up approx 0.02% of Washington Trust Bank’s portfolio.

Ryder System closed down -2.9 points or -4.24% at $65.54 with 12,95,620 shares getting traded on Friday. Post opening the session at $67.95, the shares hit an intraday low of $65.15 and an intraday high of $68.66 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Ryder System reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.05. The company had revenue of $1629.70 million for the quarter, compared to analysts expectations of $1605.49 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on Ryder System. Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $54 .Ryder System was Initiated by JP Morgan to “Neutral” on Feb 29, 2016.

Ryder System Inc. (Ryder) is engaged in offering commercial fleet management and supply chain solutions. Ryder operates in two segments: Fleet Management Solutions (FMS) and Supply Chain Solutions (SCS). The Fleet Management Solutions segment provides service leasing commercial rental contract maintenance and contract-related maintenance of trucks tractors and trailers to customers in the United States Canada and the United Kingdom. The Supply Chain Solutions segment provides supply chain solutions including distribution and transportation services in North America and Asia. The Supply Chain Solutions segment also provides services which includes vehicles and drivers as part of a transportation solution in the United States. In addition the Company’s SCS business as well as its FMS business provides customers with capacity management services.

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