Retirement Systems of Alabama Sells 1,072 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Retirement Systems of Alabama trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 43,066 shares of the transportation company’s stock after selling 1,072 shares during the quarter. Retirement Systems of Alabama’s holdings in Landstar System were worth $8,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Landstar System by 28.1% in the third quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company’s stock valued at $11,000,000 after acquiring an additional 12,756 shares during the period. Tidal Investments LLC lifted its stake in shares of Landstar System by 9.3% in the 3rd quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company’s stock worth $1,899,000 after purchasing an additional 857 shares during the period. World Investment Advisors LLC purchased a new position in shares of Landstar System in the third quarter worth approximately $4,036,000. Sanctuary Advisors LLC grew its position in Landstar System by 24.7% during the third quarter. Sanctuary Advisors LLC now owns 6,655 shares of the transportation company’s stock valued at $1,203,000 after buying an additional 1,319 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in Landstar System by 27.9% during the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after buying an additional 158 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LSTR. JPMorgan Chase & Co. lifted their price target on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Susquehanna cut their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stephens decreased their price objective on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Finally, TD Cowen decreased their target price on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.25.

Landstar System Trading Down 2.3 %

Landstar System stock opened at $179.41 on Wednesday. Landstar System, Inc. has a 1 year low of $165.39 and a 1 year high of $201.40. The firm’s 50 day moving average price is $184.62 and its 200-day moving average price is $184.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The stock has a market cap of $6.34 billion, a P/E ratio of 30.77 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. On average, equities analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Landstar System’s previous special dividend of $1.50. Landstar System’s dividend payout ratio is presently 24.70%.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.