Retirement Systems of Alabama Sells 1,001 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Retirement Systems of Alabama trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,138 shares of the transportation company’s stock after selling 1,001 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Landstar System worth $8,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after buying an additional 25,387 shares during the period. Quantbot Technologies LP increased its position in shares of Landstar System by 415.1% during the first quarter. Quantbot Technologies LP now owns 5,223 shares of the transportation company’s stock worth $1,007,000 after acquiring an additional 4,209 shares during the period. Van ECK Associates Corp raised its stake in shares of Landstar System by 36.5% during the first quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock valued at $3,118,000 after acquiring an additional 4,327 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Landstar System by 17.9% in the first quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock valued at $13,926,000 after purchasing an additional 10,978 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Landstar System in the fourth quarter valued at approximately $2,261,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Up 1.1 %

Shares of Landstar System stock opened at $188.61 on Friday. Landstar System, Inc. has a 52-week low of $161.13 and a 52-week high of $201.40. The firm’s 50 day moving average price is $184.84 and its 200-day moving average price is $184.08. The company has a quick ratio of 2.22, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The company has a market cap of $6.75 billion, a P/E ratio of 29.02 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is currently 22.15%.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI raised their price objective on Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Raymond James decreased their price objective on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Morgan Stanley lowered their price objective on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, TD Cowen boosted their price target on shares of Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $179.73.

About Landstar System

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.