State of New Jersey Common Pension Fund D Sells 5,292 Shares of Landstar System, Inc. (NASDAQ:LSTR)

State of New Jersey Common Pension Fund D decreased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,054 shares of the transportation company’s stock after selling 5,292 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Landstar System were worth $2,039,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its stake in Landstar System by 2.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after acquiring an additional 57 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Landstar System by 13.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 72 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Landstar System by 2.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock valued at $549,000 after buying an additional 74 shares in the last quarter. Finally, Studio Investment Management LLC boosted its holdings in Landstar System by 4.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,155 shares of the transportation company’s stock worth $398,000 after buying an additional 84 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James decreased their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Evercore ISI boosted their target price on shares of Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Susquehanna raised their target price on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $179.73.

Landstar System Stock Down 2.5 %

Shares of NASDAQ:LSTR opened at $179.59 on Friday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 27.63 and a beta of 0.80. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $201.40. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $185.19 and a 200 day moving average price of $182.74.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.85 EPS. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. As a group, equities research analysts predict that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is 22.15%.

Landstar System Profile

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.