California State Teachers Retirement System Trims Holdings in Landstar System, Inc. $LSTR

California State Teachers Retirement System trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,816 shares of the transportation company's stock after selling 1,128 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Landstar System worth $8,234,347 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LSTR. BlackRock Inc. bought a new stake in shares of Landstar System in the second quarter worth $698,683,000. Bank of New York Mellon Corp acquired a new position in shares of Landstar System during the 2nd quarter valued at about $68,507,000. Bank of America Corp DE purchased a new position in Landstar System in the 2nd quarter valued at about $51,340,000. Norges Bank acquired a new stake in shares of Landstar System in the 4th quarter worth about $35,280,000. Finally, Corient Private Wealth LP bought a new stake in shares of Landstar System during the 2nd quarter worth $44,949,000. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Trading Up 1.1%

Shares of NASDAQ:LSTR traded up $1.88 during midday trading on Tuesday, reaching $173.97. 105,826 shares of the company's stock were exchanged, compared to its average volume of 502,188. The firm's 50 day simple moving average is $188.15 and its two-hundred day simple moving average is $184.14. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 45.07 and a beta of 0.90.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The firm's revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts forecast that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th were issued a dividend of $0.44 per share. The ex-dividend date was Tuesday, August 18th. This is a positive change from Landstar System's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.0%. Landstar System's dividend payout ratio is currently 45.60%.

Analyst Upgrades and Downgrades

LSTR has been the subject of several analyst reports. UBS Group restated a "neutral" rating and issued a $195.00 target price on shares of Landstar System in a research report on Wednesday, July 29th. The Goldman Sachs Group raised their price target on Landstar System from $147.00 to $168.00 and gave the company a "sell" rating in a report on Thursday, July 16th. Stephens raised shares of Landstar System to a "strong-buy" rating in a research note on Wednesday, July 8th. Morgan Stanley reiterated an "underweight" rating and issued a $145.00 price target on shares of Landstar System in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price target on Landstar System from $198.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $196.00.

Landstar System Profile

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company's operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.