New Mexico Educational Retirement Board Has $745,000 Position in Landstar System, Inc. (NASDAQ:LSTR)

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New Mexico Educational Retirement Board reduced its stake in Landstar System, Inc. (NASDAQ:LSTR) by 16.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,900 shares of the transportation company’s stock after selling 1,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Landstar System were worth $745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Landstar System by 5.2% in the 1st quarter. BlackRock Inc. now owns 5,689,622 shares of the transportation company’s stock worth $622,387,000 after purchasing an additional 278,921 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in 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 purchasing an additional 361,977 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Landstar System by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,131,576 shares of the transportation company’s stock worth $123,783,000 after purchasing an additional 2,896 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Landstar System by 2.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 880,115 shares of the transportation company’s stock worth $96,276,000 after purchasing an additional 21,023 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Landstar System by 1.1% in the 1st quarter. Eagle Asset Management Inc. now owns 728,853 shares of the transportation company’s stock worth $79,729,000 after purchasing an additional 8,260 shares during the last quarter. Hedge funds and other institutional investors own 98.70% of the company’s stock.

Shares of LSTR stock traded up $0.50 during trading hours on Wednesday, reaching $105.64. 2,004 shares of the company’s stock were exchanged, compared to its average volume of 272,274. Landstar System, Inc. has a fifty-two week low of $90.23 and a fifty-two week high of $128.70. The stock has a market capitalization of $4.16 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.42 and a beta of 1.27. The business has a fifty day moving average price of $109.18 and a 200-day moving average price of $107.79. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.09.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.07 billion. Landstar System had a net margin of 5.82% and a return on equity of 36.17%. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, research analysts expect that Landstar System, Inc. will post 6.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from Landstar System’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, August 9th. Landstar System’s dividend payout ratio is presently 11.97%.

LSTR has been the subject of a number of research analyst reports. Wolfe Research upgraded Landstar System from an “underperform” rating to a “peer perform” rating in a report on Friday, June 28th. SunTrust Banks set a $110.00 price target on Landstar System and gave the stock a “hold” rating in a report on Friday, July 26th. BidaskClub lowered Landstar System from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Stifel Nicolaus upped their price target on Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, 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 report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $112.07.

Landstar System 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 service providers.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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