Retirement Systems of Alabama boosted its position in Landstar System, Inc. (NASDAQ:LSTR) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,863 shares of the transportation company’s stock after buying an additional 4,605 shares during the period. Retirement Systems of Alabama’s holdings in Landstar System were worth $9,490,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in LSTR. Russell Investments Group Ltd. boosted its position in Landstar System by 7.9% in the first quarter. Russell Investments Group Ltd. now owns 208,035 shares of the transportation company’s stock worth $17,818,000 after buying an additional 15,319 shares during the period. Janney Montgomery Scott LLC boosted its position in Landstar System by 37.8% in the first quarter. Janney Montgomery Scott LLC now owns 20,274 shares of the transportation company’s stock worth $1,736,000 after buying an additional 5,562 shares during the period. Cardinal Capital Management boosted its position in Landstar System by 1.0% in the first quarter. Cardinal Capital Management now owns 13,229 shares of the transportation company’s stock worth $1,133,000 after buying an additional 134 shares during the period. First Quadrant L P CA boosted its position in Landstar System by 2.0% in the first quarter. First Quadrant L P CA now owns 399,924 shares of the transportation company’s stock worth $34,253,000 after buying an additional 8,027 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its position in Landstar System by 11.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,200 shares of the transportation company’s stock worth $103,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 97.12% of the company’s stock.

Landstar System, Inc. (LSTR) opened at 84.00 on Friday. Landstar System, Inc. has a one year low of $65.05 and a one year high of $90.80. The company has a market cap of $3.52 billion, a PE ratio of 24.26 and a beta of 0.75. The stock has a 50 day moving average price of $85.70 and a 200 day moving average price of $85.27.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million for the quarter, compared to analysts’ expectations of $859.30 million. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Landstar System, Inc. will post $3.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. This is a boost from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, August 10th. Landstar System’s payout ratio is presently 11.56%.

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A number of research firms have issued reports on LSTR. BidaskClub cut Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Thursday, July 6th. Stifel Nicolaus raised their price objective on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, April 28th. Cowen and Company raised their price objective on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Finally, Morgan Stanley raised their price objective on Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.86.

About Landstar System

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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