New York State Teachers Retirement System Has $5.72 Million Holdings in Landstar System, Inc. $LSTR

Key Points

• The New York State Teachers Retirement System reduced its stake in Landstar System, Inc. by 11.1%, now holding approximately 0.12% of the company, valued at $5.72 million.
• Landstar System reported a quarterly EPS of $1.20, exceeding analysts' expectations, despite a 1.1% year-over-year revenue decline.
• The company recently declared a quarterly dividend of $0.40, representing an annualized yield of 1.2% with a payout ratio of 33.54%.

New York State Teachers Retirement System lessened its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,111 shares of the transportation company's stock after selling 5,114 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Landstar System worth $5,715,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Landstar System by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company's stock valued at $12,203,000 after purchasing an additional 213 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after purchasing an additional 154 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Landstar System by 31.7% during the 1st quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company's stock valued at $1,225,000 after purchasing an additional 1,961 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Landstar System by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company's stock valued at $29,707,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Landstar System during the 1st quarter valued at $816,000. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Stock Up 2.6%

LSTR opened at $133.40 on Tuesday. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $196.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $4.62 billion, a P/E ratio of 27.97 and a beta of 0.82. The stock has a fifty day moving average of $128.33 and a 200-day moving average of $134.61.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter last year, the business earned $1.48 earnings per share. Landstar System's revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were given a $0.40 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Landstar System's dividend payout ratio (DPR) is presently 33.54%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LSTR. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Landstar System in a report on Wednesday, October 8th. Wall Street Zen downgraded Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Zacks Research raised Landstar System from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Robert W. Baird assumed coverage on Landstar System in a report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 target price for the company. Finally, Baird R W raised Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $142.36.

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.

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