Arizona State Retirement System Trims Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Arizona State Retirement System lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,126 shares of the transportation company’s stock after selling 142 shares during the period. Arizona State Retirement System’s holdings in Landstar System were worth $1,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of Landstar System by 120.7% during the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock valued at $28,408,000 after buying an additional 90,391 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Landstar System by 0.3% during the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock valued at $12,203,000 after buying an additional 213 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock valued at $45,000 after buying an additional 154 shares during the period. Brown Advisory Inc. lifted its stake in shares of Landstar System by 31.7% during the first quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock valued at $1,225,000 after buying an additional 1,961 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Landstar System by 1.2% during the first quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock valued at $29,707,000 after buying an additional 2,318 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays assumed coverage on shares of Landstar System in a research note on Monday, June 9th. They set an “equal weight” rating and a $145.00 price objective on the stock. Robert W. Baird assumed coverage on shares of Landstar System in a research note on Tuesday, July 1st. They set an “outperform” rating and a $166.00 price objective on the stock. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. Baird R W raised shares of Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, Stifel Nicolaus cut their price target on shares of Landstar System from $147.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and an average price target of $151.31.

Landstar System Stock Performance

Shares of LSTR stock opened at $136.27 on Friday. The company’s fifty day simple moving average is $140.24 and its 200-day simple moving average is $149.06. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week high of $196.86. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.76 billion, a PE ratio of 26.98 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $1.32 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. Landstar System’s dividend payout ratio (DPR) is presently 31.68%.

Landstar System Company 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.