Thomas M. Havens, President of Global Fleet Management Solutions at Ryder System Inc . (NYSE:R), executed a series of stock transactions on November 6, 2024. According to a recent SEC filing, Havens sold a total of 4,000 shares of Ryder's common stock. The shares were sold at prices ranging from $157.40 to $157.92, resulting in a total transaction value of approximately $629,756.
Following these transactions, Havens holds 20,504 shares of Ryder's common stock. This figure includes 103 shares acquired through the company's dividend reinvestment plan. The sales were carried out under direct ownership, as noted in the filing.
In other recent news, Ryder System, Inc. reported a 9% year-over-year increase in operating revenue to $2.6 billion for the third quarter of 2024, driven largely by acquisitions. However, the company's earnings per share (EPS) saw a dip to $3.44, down from $3.58 the previous year, due to weaker used vehicle sales and rental markets. On a positive note, Ryder's strategic focus on contractual lease, dedicated, and supply chain segments led to double-digit growth.
The company also initiated a $2 million share repurchase program and expects its full-year 2024 EPS to be between $11.90 and $12.10. In terms of future expectations, Ryder plans to increase debt capacity by $3.5 billion, aiming for a total capital deployment capacity of $13.5 billion.
Despite the challenges, the company remains focused on managing the current downturns while positioning for future growth. These developments highlight Ryder System's resilience in navigating a complex market, maintaining a strong balance sheet, and enhancing operational excellence.
InvestingPro Insights
Thomas M. Havens' recent stock sale at Ryder System Inc. (NYSE:R) comes at a time when the company's shares are trading near their 52-week high, with the stock price at 99.8% of its peak. This aligns with InvestingPro data showing a significant 61.31% price total return over the past year and a robust 28.06% return in the last six months.
Ryder's financial health appears strong, with a market capitalization of $6.89 billion and revenue of $12.47 billion over the last twelve months as of Q3 2024. The company's P/E ratio stands at 20.68, indicating investor confidence in its earnings potential.
InvestingPro Tips highlight that Ryder has maintained dividend payments for 49 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by a current dividend yield of 2.04% and a notable dividend growth of 14.08% over the last twelve months.
For investors seeking a deeper understanding of Ryder's financial position and future prospects, InvestingPro offers 13 additional tips, providing a comprehensive analysis of the company's performance and outlook.
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