New York State Common Retirement Fund Sells 29,100 Shares of Landstar System, Inc. (NASDAQ:LSTR)

New York State Common Retirement Fund reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 47.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,665 shares of the transportation company's stock after selling 29,100 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Landstar System worth $4,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LSTR. Kayne Anderson Rudnick Investment Management LLC lifted its position in Landstar System by 16.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock valued at $646,985,000 after buying an additional 521,695 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Landstar System by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock worth $140,602,000 after acquiring an additional 4,392 shares during the period. Northern Trust Corp grew its position in Landstar System by 15.6% in the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after buying an additional 90,672 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock valued at $106,184,000 after purchasing an additional 9,190 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Landstar System by 28.9% in the fourth quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock worth $90,398,000 after buying an additional 117,961 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Up 1.2%

LSTR traded up $1.74 during midday trading on Friday, hitting $142.64. 420,798 shares of the company's stock traded hands, compared to its average volume of 403,975. The company has a market cap of $4.99 billion, a PE ratio of 28.25 and a beta of 0.88. The stock's fifty day simple moving average is $139.83 and its 200-day simple moving average is $147.96. 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 one year low of $128.99 and a one year high of $196.86.

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

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were paid a $0.40 dividend. This is an increase 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 dividend yield of 1.12%. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, April 11th. TD Cowen reduced 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. JPMorgan Chase & Co. reduced their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Barclays began coverage on shares of Landstar System in a research report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 price target for the company. Finally, Robert W. Baird began coverage on shares of Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price target for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $151.31.

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.