Teachers Retirement System of The State of Kentucky Lowers Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,459 shares of the transportation company’s stock after selling 310 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Landstar System were worth $2,164,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LSTR. Victory Capital Management Inc. lifted its stake in shares of Landstar System by 6.2% in the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after purchasing an additional 99,461 shares during the period. State Street Corp increased its holdings in Landstar System by 1.4% in the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock valued at $211,130,000 after buying an additional 15,328 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Landstar System by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock valued at $153,685,000 after acquiring an additional 39,223 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after acquiring an additional 37,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Landstar System by 10.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after acquiring an additional 41,758 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on LSTR shares. TD Cowen reduced their price objective on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. UBS Group increased their price objective on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Stephens dropped their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Finally, Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $174.25.

Landstar System Stock Performance

NASDAQ:LSTR opened at $183.61 on Tuesday. 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 firm has a market cap of $6.49 billion, a PE ratio of 31.49 and a beta of 0.82. The firm has a 50 day simple moving average of $184.61 and a 200-day simple moving average of $184.01. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40.

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

Landstar System Increases Dividend

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

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate 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.