Retirement Systems of Alabama Has $8.70 Million Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Retirement Systems of Alabama reduced its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,139 shares of the transportation company’s stock after selling 2,936 shares during the period. Retirement Systems of Alabama owned about 0.13% of Landstar System worth $8,701,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC lifted its holdings in Landstar System by 13.3% in the 3rd quarter. LPL Financial LLC now owns 28,377 shares of the transportation company’s stock worth $5,003,000 after purchasing an additional 3,332 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Landstar System by 8.1% during the third quarter. Schroder Investment Management Group now owns 42,840 shares of the transportation company’s stock worth $7,580,000 after buying an additional 3,206 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Landstar System by 6.3% during the third quarter. Royal Bank of Canada now owns 335,747 shares of the transportation company’s stock worth $59,407,000 after buying an additional 19,920 shares during the last quarter. Tudor Investment Corp Et Al acquired a new position in shares of Landstar System during the third quarter worth approximately $4,416,000. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of Landstar System by 2.8% during the third quarter. SkyView Investment Advisors LLC now owns 4,596 shares of the transportation company’s stock worth $813,000 after buying an additional 124 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LSTR shares. Stifel Nicolaus cut their target price on Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Evercore ISI upped their price target on Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Friday, April 26th. Raymond James started coverage on Landstar System in a research report on Wednesday, May 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Finally, Susquehanna lowered their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.55.

Landstar System Price Performance

Shares of Landstar System stock traded down $3.86 during trading on Friday, reaching $180.31. 428,486 shares of the company’s stock were exchanged, compared to its average volume of 268,368. The company has a market cap of $6.45 billion, a P/E ratio of 28.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The firm’s 50-day moving average price is $181.15 and its 200 day moving average price is $186.02. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $208.62.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, research analysts anticipate that Landstar System, Inc. will post 6.31 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Tuesday, May 7th. Landstar System’s dividend payout ratio is presently 20.31%.

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.