New York State Common Retirement Fund boosted its position in Landstar System, Inc. (NASDAQ: LSTR – Get a rating) by 0.3% during the first quarter, according to the most recent information released by the Securities and Exchange Commission (SEC). The fund owned 101,440 shares of the transportation company’s stock after buying an additional 332 shares during the quarter. New York State Common Retirement Fund owned 0.27% of Landstar System worth $15,300,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Lee Financial Co purchased a new position in Landstar System in the fourth quarter valued at approximately $25,000. UMB Bank NA MO grew its stake in shares of Landstar System by 821.1% during the first quarter. UMB Bank NA MO now owns 175 shares of the transportation company’s stock valued at $27,000 after buying an additional 156 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Landstar System by 85.5% during the fourth quarter. CENTRAL TRUST Co now owns 204 shares of the transportation company’s stock worth $37,000 after buying an additional 94 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Landstar System by 124.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 260 shares of the transportation company’s stock valued at $39,000 after buying an additional 144 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of Landstar System during the first quarter valued at $53,000. 98.56% of shares are owned by institutional investors.
Changes in analysts’ ratings
A number of analysts have weighed in on the stock. Evercore ISI cut their price target on shares of Landstar System from $173.00 to $161.00 and set an “hold” rating on the stock in a research note on Tuesday, July 12th. Susquehanna Bancshares cut their price objective on shares of Landstar System from $155.00 to $153.00 and set a “neutral” rating on the stock in a research note on Friday, July 22nd. Cowen cut their target price on shares of Landstar System to $157.00 in a research note on Friday, July 22nd. StockNews.com upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Finally, Wells Fargo & Company cut their price target on shares of Landstar System from $165.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Landstar System presently has an average rating of “Hold” and a consensus target price of $162.08, according to MarketBeat.com.
The cost of the Landstar system
Shares of LSTR opened at $153.89 on Friday. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.08 and a beta of 0.92. The company has a gearing ratio of 1.62, a current ratio of 1.54, and a debt-to-equity ratio of 0.09. Landstar System, Inc. has a 12-month low of $137.15 and a 12-month high of $188.63. The fifty day simple moving average is $147.92, and the 200 day simple moving average is $151.69.
The Landstar system (NASDAQ: LSTR – Get a rating) last published its earnings results on Wednesday, July 20th. The transportation company reported $3.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.20). The company reported revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.02 billion. Landstar System had a net return of 5.89% and a return on equity of 51.73%. Landstar System’s quarterly revenue was up 25.7% year-over-year. During the same quarter of the previous year, the firm earned $2.40 per share. On average, analysts expect that Landstar System, Inc. will post 11.73 earnings per share for the current year.
The Landstar system is increasing dividends
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 5. This is $1.20 in annualized dividends and a dividend yield of 0.78%. This is a positive change from Landstar System’s previous quarterly dividend of $0.25. Landstar System’s dividend payout ratio is currently 8.36%.
Landstar System Company Profile
Landstar System, Inc. provides comprehensive transportation management solutions in the United States, Canada, Mexico and internationally. The company operates in two segments: transport logistics and insurance. The Transportation Logistics segment offers a broad range of transportation services, including truckload and less than truckload, rail intermodal, airfreight, ocean freight, expedited ground and air, time-critical, heavy/specialty, US-Canada and US-Mexico cross-border .
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https://www.defenseworld.net/2022/08/06/new-york-state-common-retirement-fund-purchases-332-shares-of-landstar-system-inc-nasdaqlstr.html New York State Common Retirement Fund purchased 332 shares of Landstar System, Inc.’s stock. (NASDAQ:LSTR)