Retirement Systems of Alabama reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,227 shares of the transportation company’s stock after selling 5,636 shares during the period. Retirement Systems of Alabama owned 0.25% of Landstar System worth $10,486,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in LSTR. Victory Capital Management Inc. bought a new position in Landstar System during the 3rd quarter worth $86,725,000. Janus Henderson Group PLC bought a new position in Landstar System during the 2nd quarter worth $57,249,000. FMR LLC raised its position in Landstar System by 64.7% during the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock worth $103,575,000 after purchasing an additional 475,220 shares during the last quarter. Koch Industries Inc. bought a new position in Landstar System during the 2nd quarter worth $339,000. Finally, Alliancebernstein L.P. raised its position in Landstar System by 641.1% during the 2nd quarter. Alliancebernstein L.P. now owns 192,125 shares of the transportation company’s stock worth $16,446,000 after purchasing an additional 166,201 shares during the last quarter. 99.05% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the company. KeyCorp reiterated a “buy” rating and set a $110.00 price target on shares of Landstar System in a report on Tuesday, October 3rd. Morgan Stanley increased their price target on Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, August 7th. Cowen and Company reiterated a “hold” rating and set a $97.00 price target on shares of Landstar System in a report on Friday, October 27th. Stifel Nicolaus upgraded Landstar System from a “hold” rating to a “buy” rating and increased their price target for the stock from $87.00 to $95.00 in a report on Monday, July 31st. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $97.00 price target (up from $84.00) on shares of Landstar System in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Landstar System has an average rating of “Hold” and a consensus price target of $96.67.
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In other news, COO Joseph J. Beacom sold 9,805 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total value of $964,027.60. Following the completion of the transaction, the chief operating officer now directly owns 55,649 shares in the company, valued at approximately $5,471,409.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael K. Kneller sold 10,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the vice president now owns 22,153 shares of the company’s stock, valued at $2,193,147. The disclosure for this sale can be found here. Insiders sold a total of 39,805 shares of company stock valued at $3,929,828 over the last quarter. 1.00% of the stock is owned by corporate insiders.
Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at $95.20 on Friday. The company has a market capitalization of $4,060.00, a PE ratio of 26.62, a PEG ratio of 1.94 and a beta of 0.80. Landstar System, Inc. has a 12 month low of $80.00 and a 12 month high of $102.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.96.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million for the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. analysts anticipate that Landstar System, Inc. will post 3.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, November 13th. Landstar System’s payout ratio is 11.05%.
Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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