Zions Bancorporation National Association UT Trims Position in Landstar System, Inc. $LSTR

Zions Bancorporation National Association UT decreased its position in Landstar System, Inc. (NASDAQ:LSTR) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 8,838 shares of the transportation company’s stock after selling 449 shares during the period. Zions Bancorporation National Association UT’s holdings in Landstar System were worth $1,229,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of LSTR. Securian Asset Management Inc. increased its position in shares of Landstar System by 3.8% during the 1st quarter. Securian Asset Management Inc. now owns 2,744 shares of the transportation company’s stock valued at $412,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Landstar System by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company’s stock worth $1,487,000 after buying an additional 100 shares during the last quarter. State of Michigan Retirement System grew its position in Landstar System by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company’s stock valued at $1,272,000 after buying an additional 100 shares during the period. Eukles Asset Management grew its position in Landstar System by 1.1% during the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after buying an additional 105 shares during the period. Finally, Allworth Financial LP increased its holdings in Landstar System by 58.5% during the first quarter. Allworth Financial LP now owns 344 shares of the transportation company’s stock valued at $48,000 after buying an additional 127 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Up 1.7%

Shares of LSTR stock opened at $130.13 on Monday. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $196.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.00 and a current ratio of 2.01. The firm has a market capitalization of $4.47 billion, a PE ratio of 33.20 and a beta of 0.83. The stock has a fifty day simple moving average of $127.64 and a two-hundred day simple moving average of $133.79.

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

Landstar System Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on LSTR shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Landstar System in a research report on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on Landstar System from $130.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Truist Financial decreased their target price on Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Zacks Research downgraded Landstar System from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Finally, Barclays reduced their price target on 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, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average 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.