New York State Common Retirement Fund Cuts Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

New York State Common Retirement Fund trimmed its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,765 shares of the transportation company’s stock after selling 4,500 shares during the period. New York State Common Retirement Fund’s holdings in Landstar System were worth $10,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Landstar System during the 4th quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Landstar System in the 4th quarter worth about $34,000. TD Private Client Wealth LLC increased its stake in Landstar System by 27.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock worth $137,000 after buying an additional 158 shares in the last quarter. Huntington National Bank raised its holdings in shares of Landstar System by 11.5% during the third quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 95 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Landstar System by 14.8% in the third quarter. KBC Group NV now owns 1,006 shares of the transportation company’s stock valued at $190,000 after acquiring an additional 130 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Evercore ISI dropped their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Wednesday, October 30th. Stephens decreased their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. Finally, Stifel Nicolaus increased their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average price target of $170.40.

Landstar System Price Performance

Shares of LSTR stock opened at $156.59 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The company has a market capitalization of $5.53 billion, a PE ratio of 28.37 and a beta of 0.83. The firm’s 50-day moving average is $168.98 and its two-hundred day moving average is $178.89. Landstar System, Inc. has a 12 month low of $152.73 and a 12 month high of $196.86.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s dividend payout ratio is presently 26.09%.

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.