New York State Common Retirement Fund increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 205,600 shares of the transportation company’s stock after buying an additional 14,599 shares during the period. New York State Common Retirement Fund owned 0.49% of Landstar System worth $17,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Landstar System by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after acquiring an additional 17 shares during the last quarter. Capstone Asset Management Co. grew its position in Landstar System by 0.4% in the second quarter. Capstone Asset Management Co. now owns 4,531 shares of the transportation company’s stock worth $388,000 after acquiring an additional 20 shares in the last quarter. BB&T Corp grew its position in Landstar System by 1.3% in the second quarter. BB&T Corp now owns 3,033 shares of the transportation company’s stock worth $260,000 after acquiring an additional 39 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Landstar System by 0.5% in the second quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock worth $751,000 after acquiring an additional 40 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Landstar System by 2.9% in the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock worth $141,000 after acquiring an additional 47 shares in the last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on LSTR. Stifel Nicolaus restated a “buy” rating and set a $95.00 price target on shares of Landstar System in a research note on Tuesday, September 12th. BidaskClub downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $88.00 to $103.00 in a research note on Wednesday, August 30th. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Thursday, July 6th. Finally, Morgan Stanley upped their price objective on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $87.63.

Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at 99.65 on Monday. Landstar System, Inc. has a 52 week low of $65.05 and a 52 week high of $100.00. The firm has a market capitalization of $4.18 billion, a PE ratio of 28.78 and a beta of 0.76. The stock has a 50 day moving average of $87.72 and a 200-day moving average of $85.85.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts anticipate that Landstar System, Inc. will post $3.57 earnings per share for the current fiscal year.

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Landstar System Profile

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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