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

New York State Teachers Retirement System lessened its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 0.13% of Landstar System worth $6,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in shares of Landstar System during the first quarter worth about $25,000. HM Payson & Co. purchased a new position in Landstar System in the 4th quarter worth $26,000. Colonial Trust Co SC raised its stake in Landstar System by 61.7% in 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 raised its stake 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 acquiring an additional 154 shares during the last quarter. Finally, BOKF NA raised its stake in Landstar System by 56.1% in the 4th quarter. BOKF NA now owns 348 shares of the transportation company's stock worth $58,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Price Performance

Shares of LSTR stock traded down $0.26 during trading hours on Wednesday, hitting $142.90. 426,251 shares of the company's stock were exchanged, compared to its average volume of 305,212. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.99 billion, a P/E ratio of 28.30 and a beta of 0.88. The firm has a 50 day moving average of $139.57 and a two-hundred day moving average of $150.76. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. Sell-side analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, June 5th. This is a boost from Landstar System's previous quarterly dividend of $0.36. Landstar System's payout ratio is 31.68%.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of recent research reports. Robert W. Baird initiated coverage on Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 target price on the stock. Barclays initiated coverage on Landstar System in a research report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 target price on the stock. UBS Group set a $154.00 target price on Landstar System in a research report on Wednesday, May 14th. Wall Street Zen upgraded Landstar System from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Evercore ISI dropped their target price on Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $151.31.

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.