State Board of Administration of Florida Retirement System trimmed its position in Landstar System, Inc. (NASDAQ:LSTR) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,364 shares of the transportation company’s stock after selling 236 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.17% of Landstar System worth $7,383,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of LSTR. Victory Capital Management Inc. boosted its position in shares of Landstar System by 21.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,080,700 shares of the transportation company’s stock worth $227,607,000 after buying an additional 361,977 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Landstar System by 5.2% during the 1st quarter. BlackRock Inc. now owns 5,689,622 shares of the transportation company’s stock valued at $622,387,000 after buying an additional 278,921 shares during the last quarter. Impala Asset Management LLC purchased a new position in shares of Landstar System during the 1st quarter valued at approximately $25,012,000. Investec Asset Management LTD acquired a new stake in shares of Landstar System during the 2nd quarter valued at approximately $12,673,000. Finally, RK Capital Management LLC acquired a new stake in Landstar System in the first quarter worth $8,478,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
NASDAQ:LSTR traded down $0.63 on Wednesday, reaching $104.51. The company’s stock had a trading volume of 363 shares, compared to its average volume of 272,274. Landstar System, Inc. has a 1-year low of $90.23 and a 1-year high of $128.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market cap of $4.16 billion, a PE ratio of 16.89, a PEG ratio of 1.42 and a beta of 1.27. The business’s 50-day moving average price is $109.18 and its two-hundred day moving average price is $107.79.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 12th will be given a dividend of $0.185 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, August 9th. Landstar System’s dividend payout ratio is currently 11.97%.
Several research analysts recently weighed in on the company. Deutsche Bank set a $107.00 target price on Landstar System and gave the company a “hold” rating in a research note on Thursday, July 11th. Credit Suisse Group cut their price target on Landstar System from $104.00 to $103.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. BidaskClub downgraded Landstar System from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. SunTrust Banks set a $110.00 price objective on Landstar System and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Cowen reaffirmed a “hold” rating and issued a $119.00 price target on shares of Landstar System in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $112.07.
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 service providers.
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