New York State Common Retirement Fund boosted its position in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,440 shares of the transportation company’s stock after acquiring an additional 332 shares during the quarter. New York State Common Retirement Fund owned 0.27% of Landstar System worth $15,300,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Lee Financial Co bought a new position in Landstar System in the fourth quarter valued at approximately $25,000. UMB Bank N A MO grew its stake in shares of Landstar System by 821.1% during the first quarter. UMB Bank N A MO now owns 175 shares of the transportation company’s stock worth $27,000 after buying an additional 156 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Landstar System by 85.5% during the fourth quarter. CENTRAL TRUST Co now owns 204 shares of the transportation company’s stock worth $37,000 after buying an additional 94 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Landstar System by 124.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 260 shares of the transportation company’s stock worth $39,000 after buying an additional 144 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of Landstar System during the first quarter worth $53,000. 98.56% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of Landstar System from $173.00 to $161.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 12th. Susquehanna Bancshares decreased their target price on shares of Landstar System from $155.00 to $153.00 and set a “neutral” rating on the stock in a research note on Friday, July 22nd. Cowen reduced their price objective on shares of Landstar System to $157.00 in a research note on Friday, July 22nd. StockNews.com raised shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Landstar System from $165.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus target price of $162.08.
Landstar System Price Performance
LSTR stock opened at $153.89 on Friday. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.08 and a beta of 0.92. The company has a quick ratio of 1.62, a current ratio of 1.54 and a debt-to-equity ratio of 0.09. Landstar System, Inc. has a 12-month low of $137.15 and a 12-month high of $188.63. The company’s fifty day simple moving average is $147.92 and its 200 day simple moving average is $151.69.
Landstar System (NASDAQ:LSTR – Get Rating) last released its earnings results on Wednesday, July 20th. The transportation company reported $3.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.20). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.02 billion. Landstar System had a net margin of 5.89% and a return on equity of 51.73%. Landstar System’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 EPS. On average, analysts expect that Landstar System, Inc. will post 11.73 earnings per share for the current year.
Landstar System Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 0.78%. This is a positive change from Landstar System’s previous quarterly dividend of $0.25. Landstar System’s dividend payout ratio is currently 8.36%.
Landstar System Company Profile
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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