New York State Teachers Retirement System Sells 2,200 Shares of Landstar System, Inc. (NASDAQ:LSTR)

New York State Teachers Retirement System reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,225 shares of the transportation company's stock after selling 2,200 shares during the period. New York State Teachers Retirement System owned about 0.13% of Landstar System worth $6,943,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HM Payson & Co. purchased a new position in shares of Landstar System during the fourth quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in Landstar System during the 1st quarter valued at $25,000. Colonial Trust Co SC boosted its holdings 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 acquiring an additional 71 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of 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 acquiring an additional 154 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Landstar System in the fourth quarter valued at about $60,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Landstar System stock traded down $3.34 during mid-day trading on Monday, reaching $142.54. The company's stock had a trading volume of 335,289 shares, compared to its average volume of 303,264. The firm's fifty day moving average price is $139.24 and its two-hundred day moving average price is $150.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The company has a market capitalization of $4.98 billion, a P/E ratio of 28.23 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 3.72% and a return on equity of 18.23%. Landstar System's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 earnings per share. Sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company 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. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.12%. This is a boost from Landstar System's previous quarterly dividend of $0.36. Landstar System's payout ratio is currently 31.68%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Susquehanna restated a "neutral" rating and set a $125.00 price target (up from $120.00) on shares of Landstar System in a report on Tuesday, June 24th. Truist Financial cut their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. UBS Group set a $154.00 price target on Landstar System in a research report on Wednesday, May 14th. Evercore ISI dropped their price target on Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $151.50.

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.