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

New York State Common Retirement Fund reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,765 shares of the transportation company’s stock after selling 4,500 shares during the period. New York State Common Retirement Fund owned approximately 0.17% of Landstar System worth $10,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSTR. State Street Corp grew its stake in shares of Landstar System by 1.4% during the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after acquiring an additional 15,328 shares during the last quarter. Geode Capital Management LLC grew its position in Landstar System by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock worth $153,685,000 after purchasing an additional 39,223 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Landstar System by 10.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after purchasing an additional 41,758 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Landstar System by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock valued at $68,494,000 after purchasing an additional 948 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Landstar System by 3,775.2% in the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock worth $63,243,000 after buying an additional 326,212 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $156.59 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 28.37 and a beta of 0.83. The firm’s 50 day simple moving average is $168.98 and its 200-day simple moving average is $178.89. Landstar System, Inc. has a 12 month low of $152.73 and a 12 month high of $196.86.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 0.92%. Landstar System’s payout ratio is 26.09%.

Analyst Ratings Changes

LSTR has been the topic of several research reports. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Evercore ISI reduced their price objective on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. Susquehanna decreased their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. UBS Group increased their price target on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, Landstar System has an average rating of “Hold” and an average price target of $170.40.

Landstar System Company 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.