New York State Common Retirement Fund grew its position in Landstar System, Inc. (NASDAQ:LSTR) by 39.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 202,198 shares of the transportation company’s stock after purchasing an additional 56,794 shares during the quarter. New York State Common Retirement Fund owned approximately 0.53% of Landstar System worth $33,375,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Landstar System by 100.0% in the 1st quarter. Fifth Third Bancorp now owns 268 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Landstar System in the 4th quarter valued at $48,000. CI Investments Inc. boosted its stake in shares of Landstar System by 116.8% in the 4th quarter. CI Investments Inc. now owns 427 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 230 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Landstar System by 1,229.3% in the 1st quarter. Sowell Financial Services LLC now owns 545 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 504 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in Landstar System during the fourth quarter worth $124,000. 97.32% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on LSTR shares. Robert W. Baird reissued a “neutral” rating and set a $182.00 target price on shares of Landstar System in a research note on Monday, May 17th. Truist Securities increased their target price on shares of Landstar System from $145.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, April 15th. Truist increased their target price on shares of Landstar System from $145.00 to $1,750.00 in a research note on Thursday, April 15th. Morgan Stanley increased their target price on shares of Landstar System from $90.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 19th. Finally, Susquehanna increased their target price on shares of Landstar System from $138.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 13th. Two research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $250.20.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, April 20th. The transportation company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.38. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a net margin of 5.08% and a return on equity of 36.13%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, equities research analysts predict that Landstar System, Inc. will post 8.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Thursday, May 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 5th. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. Landstar System’s dividend payout ratio is currently 15.88%.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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.
Featured Article: What does cost of debt say about a company’s financial health?
Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR).
Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.