Arizona State Retirement System Lowers Position in Landstar System, Inc. (NASDAQ:LSTR)

Arizona State Retirement System lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,049 shares of the transportation company’s stock after selling 182 shares during the quarter. Arizona State Retirement System’s holdings in Landstar System were worth $1,946,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LSTR. Morgan Stanley raised its holdings in shares of Landstar System by 756.6% during the 4th quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock valued at $496,178,000 after buying an additional 2,690,326 shares in the last quarter. Norges Bank purchased a new position in shares of Landstar System during the 4th quarter valued at about $54,341,000. Renaissance Technologies LLC purchased a new position in shares of Landstar System during the 1st quarter valued at about $26,416,000. Invesco Ltd. raised its holdings in shares of Landstar System by 55.1% during the 3rd quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock valued at $73,949,000 after buying an additional 148,490 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Landstar System by 21.5% during the 1st quarter. Northern Trust Corp now owns 559,782 shares of the transportation company’s stock valued at $84,432,000 after buying an additional 98,958 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Susquehanna reduced their price target on Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, March 25th. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research report on Wednesday, January 10th. UBS Group raised their price target on Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus reduced their price target on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $184.55.

Landstar System Price Performance

Shares of LSTR stock opened at $178.91 on Friday. The firm has a market cap of $6.40 billion, a P/E ratio of 24.34 and a beta of 0.83. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $208.62. The business’s 50 day moving average price is $188.43 and its 200-day moving average price is $183.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.00.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.01). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. On average, equities research analysts anticipate that Landstar System, Inc. will post 6.76 earnings per share for the current year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, February 9th. Landstar System’s payout ratio is presently 17.96%.

Insider Activity

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the transaction, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.