Retirement Systems of Alabama lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,380 shares of the transportation company’s stock after selling 3,106 shares during the quarter. Retirement Systems of Alabama owned approximately 0.25% of Landstar System worth $11,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its stake in Landstar System by 8.9% in the fourth quarter. BlackRock Inc. now owns 5,410,701 shares of the transportation company’s stock valued at $517,643,000 after purchasing an additional 444,387 shares in the last quarter. Vanguard Group Inc grew its stake in Landstar System by 0.6% in the third quarter. Vanguard Group Inc now owns 3,687,689 shares of the transportation company’s stock valued at $449,897,000 after purchasing an additional 21,365 shares in the last quarter. Vanguard Group Inc. grew its stake in Landstar System by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,687,689 shares of the transportation company’s stock valued at $449,897,000 after purchasing an additional 21,365 shares in the last quarter. Victory Capital Management Inc. grew its stake in Landstar System by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,718,723 shares of the transportation company’s stock valued at $164,430,000 after purchasing an additional 195,176 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Landstar System by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 991,473 shares of the transportation company’s stock valued at $120,961,000 after purchasing an additional 39,994 shares in the last quarter. Hedge funds and other institutional investors own 98.65% of the company’s stock.

In related news, CEO James B. Gattoni sold 19,481 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $110.68, for a total transaction of $2,156,157.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO L Kevin Stout sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $110.99, for a total value of $665,940.00. Following the transaction, the chief financial officer now directly owns 47,204 shares of the company’s stock, valued at approximately $5,239,171.96. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Shares of NASDAQ:LSTR opened at $111.89 on Friday. Landstar System, Inc. has a fifty-two week low of $90.23 and a fifty-two week high of $128.70. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.45 and a beta of 1.20. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.12.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 30th. The transportation company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.10. Landstar System had a return on equity of 36.70% and a net margin of 5.53%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts predict that Landstar System, Inc. will post 6.41 EPS for the current fiscal year.

LSTR has been the topic of a number of recent research reports. BidaskClub upgraded Landstar System from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Buckingham Research set a $115.00 price target on Landstar System and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Cowen reaffirmed a “hold” rating and issued a $100.00 price target on shares of Landstar System in a research report on Wednesday, January 30th. Finally, Zacks Investment Research cut Landstar System from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $111.70.

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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 service providers.

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

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