Blue Trust Inc. Decreases Position in Landstar System, Inc. $LSTR

Blue Trust Inc. lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 47.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 583 shares of the transportation company’s stock after selling 525 shares during the period. Blue Trust Inc.’s holdings in Landstar System were worth $81,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Callan Family Office LLC lifted its holdings in shares of Landstar System by 1,018.5% during the 2nd quarter. Callan Family Office LLC now owns 37,939 shares of the transportation company’s stock valued at $5,274,000 after purchasing an additional 34,547 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Landstar System by 4.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the transportation company’s stock valued at $1,015,000 after acquiring an additional 300 shares during the period. Confluence Wealth Services Inc. increased its position in shares of Landstar System by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 7,418 shares of the transportation company’s stock valued at $1,031,000 after acquiring an additional 351 shares during the period. Fenimore Asset Management Inc increased its position in shares of Landstar System by 4.1% in the 2nd quarter. Fenimore Asset Management Inc now owns 102,957 shares of the transportation company’s stock valued at $14,313,000 after acquiring an additional 4,036 shares during the period. Finally, Petros Family Wealth LLC increased its position in shares of Landstar System by 10.4% in the 2nd quarter. Petros Family Wealth LLC now owns 1,610 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LSTR. JPMorgan Chase & Co. cut their target price on Landstar System from $147.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Barclays cut their target price on Landstar System from $145.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Landstar System in a research report on Wednesday, October 8th. Wall Street Zen downgraded Landstar System from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Finally, Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $142.36.

Landstar System Price Performance

NASDAQ:LSTR opened at $130.08 on Friday. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $196.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.51 billion, a PE ratio of 27.27 and a beta of 0.82. The stock’s 50-day moving average price is $128.19 and its 200-day moving average price is $134.78.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $1.48 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Landstar System’s dividend payout ratio (DPR) is currently 33.54%.

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.