Russell Investments Group Ltd. Acquires 100,817 Shares of Landstar System, Inc. $LSTR

Russell Investments Group Ltd. raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 87.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,850 shares of the transportation company’s stock after buying an additional 100,817 shares during the period. Russell Investments Group Ltd.’s holdings in Landstar System were worth $30,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MAI Capital Management raised its holdings in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after acquiring an additional 107 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after purchasing an additional 152 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Landstar System by 7,650.0% in the second quarter. Hantz Financial Services Inc. now owns 310 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 306 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Landstar System by 352.2% during the first 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. 97.95% of the stock is owned by institutional investors.

Landstar System Trading Up 0.1%

NASDAQ LSTR opened at $130.84 on Friday. The business’s fifty day moving average is $126.89 and its 200-day moving average is $132.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 33.38 and a beta of 0.83. Landstar System, Inc. has a one year low of $119.32 and a one year high of $190.69.

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

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System’s dividend payout ratio (DPR) is presently 40.82%.

Analyst Ratings Changes

LSTR has been the subject of a number of analyst reports. UBS Group lowered their price target on Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Landstar System in a research note on Tuesday. TD Cowen lowered their target price on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a report on Friday. Finally, Barclays reduced their price objective on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus 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.