California Public Employees Retirement System Sells 2,368 Shares of Landstar System, Inc. (NASDAQ:LSTR)

California Public Employees Retirement System cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,003 shares of the transportation company’s stock after selling 2,368 shares during the quarter. California Public Employees Retirement System’s holdings in Landstar System were worth $12,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC increased its stake in Landstar System by 8.6% during the 3rd quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock worth $30,639,000 after acquiring an additional 12,894 shares during the period. State Street Corp grew its holdings in shares of Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after purchasing an additional 15,328 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Landstar System by 22.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock worth $2,935,000 after purchasing an additional 3,150 shares during the period. National Bank of Canada FI raised its stake in Landstar System by 346.8% in the third quarter. National Bank of Canada FI now owns 6,179 shares of the transportation company’s stock valued at $1,167,000 after purchasing an additional 4,796 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Landstar System by 5.1% during the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock worth $153,685,000 after purchasing an additional 39,223 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LSTR has been the topic of several recent analyst reports. Susquehanna decreased their target price on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. Truist Financial decreased their price objective on shares of Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a research note on Thursday. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Thursday. Stifel Nicolaus lifted their price target on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average price target of $160.45.

Landstar System Price Performance

Landstar System stock opened at $136.64 on Friday. The stock has a 50-day moving average price of $156.41 and a two-hundred day moving average price of $172.34. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 12 month low of $132.41 and a 12 month high of $196.86. The company has a market capitalization of $4.83 billion, a PE ratio of 24.75 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s dividend payout ratio is presently 26.09%.

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.