Lecap Asset Management Ltd. Sells 1,473 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Lecap Asset Management Ltd. cut its position in Landstar System, Inc. (NASDAQ:LSTR) by 21.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,449 shares of the transportation company’s stock after selling 1,473 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Landstar System were worth $1,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Mather Group LLC. bought a new position in shares of Landstar System during the first quarter valued at $27,000. Quest Partners LLC bought a new position in Landstar System during the 2nd quarter worth $73,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 358 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Landstar System during the 1st quarter worth about $86,000. 97.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James cut their target price on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. TD Cowen upped their price objective on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Finally, Evercore ISI decreased their price objective on Landstar System from $167.00 to $165.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $177.25.

Landstar System Trading Down 1.2 %

NASDAQ:LSTR opened at $180.03 on Thursday. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $201.40. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $184.17 and a 200-day moving average price of $182.49. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 27.70 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. Equities analysts predict that Landstar System, Inc. will post 5.85 EPS for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a yield of 0.80%. This is a boost from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is currently 22.15%.

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 services.