Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,225 shares of the transportation company’s stock after selling 2,200 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Landstar System worth $6,943,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LSTR. Alpine Bank Wealth Management purchased a new stake in shares of Landstar System during the first quarter valued at approximately $25,000. HM Payson & Co. acquired a new stake in Landstar System during the 4th quarter valued at $26,000. Colonial Trust Co SC increased its stake in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock worth $32,000 after buying an additional 71 shares during the period. Golden State Wealth Management LLC lifted its holdings in Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after buying an additional 154 shares in the last quarter. Finally, BOKF NA boosted its position in Landstar System by 56.1% in the 4th quarter. BOKF NA now owns 348 shares of the transportation company’s stock valued at $58,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Performance

Shares of LSTR opened at $146.06 on Friday. The stock has a market capitalization of $5.10 billion, a PE ratio of 28.92 and a beta of 0.88. The business’s fifty day moving average price is $139.09 and its 200 day moving average price is $151.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a dividend of $0.40 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.10%. Landstar System’s dividend payout ratio is 31.68%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Barclays initiated coverage on Landstar System in a research note on Monday, June 9th. They set an “equal weight” rating and a $145.00 price objective for the company. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Stifel Nicolaus reduced their target price on Landstar System from $147.00 to $140.00 and set a “hold” rating for the company in a research note on Wednesday, May 14th. Finally, TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $151.50.

Landstar System Profile

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.