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

New York State Common Retirement Fund decreased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,675 shares of the transportation company’s stock after selling 1,598 shares during the period. New York State Common Retirement Fund owned 0.22% of Landstar System worth $15,623,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in Landstar System during the 3rd quarter worth $49,000. Cary Street Partners Investment Advisory LLC boosted its stake in Landstar System by 126.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 565 shares of the transportation company’s stock worth $100,000 after purchasing an additional 315 shares during the period. Exchange Traded Concepts LLC boosted its stake in Landstar System by 17.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 616 shares of the transportation company’s stock worth $119,000 after purchasing an additional 92 shares during the period. Blue Trust Inc. boosted its stake in Landstar System by 18.7% during the 4th quarter. Blue Trust Inc. now owns 755 shares of the transportation company’s stock worth $134,000 after purchasing an additional 119 shares during the period. Finally, Douglas Lane & Associates LLC acquired a new stake in Landstar System during the 4th quarter worth $201,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LSTR. UBS Group increased their price target on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a research report on Wednesday, January 10th. Wells Fargo & Company upped their price objective on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Friday. Finally, Susquehanna cut their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $184.09.

Insider Activity at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the sale, the vice president now directly owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Landstar System Stock Performance

Shares of LSTR opened at $177.26 on Monday. The company has a 50-day simple moving average of $184.33 and a 200-day simple moving average of $183.53. The company has a quick ratio of 2.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $6.34 billion, a PE ratio of 27.27, a P/E/G ratio of 4.69 and a beta of 0.83. Landstar System, Inc. has a 52-week low of $161.13 and a 52-week high of $208.62.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. Equities research analysts predict that Landstar System, Inc. will post 6.69 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.74%. Landstar System’s dividend payout ratio is presently 20.31%.

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.