New York State Common Retirement Fund cut its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,765 shares of the transportation company's stock after selling 4,500 shares during the quarter. New York State Common Retirement Fund owned 0.17% of Landstar System worth $10,615,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Landstar System during the 4th quarter valued at $25,000. Trust Co. of Vermont bought a new stake in shares of Landstar System in the fourth quarter worth $34,000. TD Private Client Wealth LLC increased its position in Landstar System by 27.9% during the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company's stock valued at $137,000 after acquiring an additional 158 shares during the last quarter. Huntington National Bank lifted its holdings in Landstar System by 11.5% in 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 period. Finally, KBC Group NV boosted its position in Landstar System by 14.8% in the third quarter. KBC Group NV now owns 1,006 shares of the transportation company's stock worth $190,000 after purchasing an additional 130 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.
Landstar System Trading Up 1.7 %
Shares of LSTR traded up $2.73 during trading hours on Friday, reaching $158.80. 318,652 shares of the company traded hands, compared to its average volume of 254,887. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 28.77 and a beta of 0.83. Landstar System, Inc. has a 12-month low of $152.73 and a 12-month high of $196.86. The stock's fifty day moving average price is $167.83 and its 200 day moving average price is $178.37. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.
Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (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%. Sell-side analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.
Landstar System Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.44 annualized dividend and a yield of 0.91%. Landstar System's payout ratio is currently 26.09%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on LSTR shares. Stifel Nicolaus increased their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Benchmark restated a "hold" rating on shares of Landstar System in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their price target on Landstar System from $184.00 to $177.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Raymond James cut Landstar System from an "outperform" rating to a "market perform" rating in a research report on Friday, November 15th. Finally, Susquehanna lowered their price objective on Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $170.40.
Read Our Latest Analysis on LSTR
About Landstar System
(
Free Report)
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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