Teacher Retirement System of Texas Increases Stock Position in Landstar System, Inc. $LSTR

Teacher Retirement System of Texas grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,761 shares of the transportation company’s stock after acquiring an additional 3,975 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of Landstar System worth $5,945,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSTR. Geneos Wealth Management Inc. lifted its position in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Landstar System by 118.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after buying an additional 152 shares during the last quarter. Brooklyn Investment Group raised its stake in Landstar System by 352.2% during the 1st quarter. Brooklyn Investment Group now owns 312 shares of the transportation company’s stock valued at $47,000 after buying an additional 243 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Landstar System by 35.3% in the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock worth $48,000 after acquiring an additional 84 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Landstar System by 58.5% in the first quarter. Allworth Financial LP now owns 344 shares of the transportation company’s stock worth $48,000 after acquiring an additional 127 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

LSTR opened at $125.35 on Friday. The firm has a market cap of $4.34 billion, a P/E ratio of 31.98 and a beta of 0.82. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $196.86. The company has a 50 day simple moving average of $128.25 and a two-hundred day simple moving average of $134.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm posted $1.41 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

Analysts Set New Price Targets

Several brokerages have issued reports on LSTR. JPMorgan Chase & Co. dropped their target price on Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial lowered their price objective on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Wednesday. UBS Group lowered their price objective on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Susquehanna cut their price objective on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Landstar System presently has an average rating of “Hold” and an average target price of $134.60.

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.