Hsbc Holdings PLC Buys 21,363 Shares of Landstar System, Inc. $LSTR

Hsbc Holdings PLC grew its stake in Landstar System, Inc. (NASDAQ:LSTR) by 244.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,115 shares of the transportation company’s stock after buying an additional 21,363 shares during the period. Hsbc Holdings PLC’s holdings in Landstar System were worth $6,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LSTR. Elevation Wealth Partners LLC increased its position in Landstar System by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 66 shares during the period. First Citizens Bank & Trust Co. boosted its stake in shares of Landstar System by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after purchasing an additional 68 shares during the last quarter. Petros Family Wealth LLC increased its position in shares of Landstar System by 4.9% during the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock worth $248,000 after buying an additional 73 shares during the period. CIBC Private Wealth Group LLC raised its stake in Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after buying an additional 78 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in Landstar System by 1.4% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after buying an additional 89 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. TD Cowen decreased their target price on Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. Wall Street Zen cut Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Zacks Research downgraded shares of Landstar System from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Finally, UBS Group reiterated a “neutral” rating and issued a $195.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Landstar System has a consensus rating of “Hold” and an average price target of $196.00.

Landstar System Stock Performance

LSTR opened at $173.57 on Thursday. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 44.97 and a beta of 0.90. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The company’s fifty day moving average price is $190.17 and its two-hundred day moving average price is $183.62. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. On average, analysts expect that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, August 18th. This is a boost from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s payout ratio is presently 45.60%.

Insider Buying and Selling

In other news, CFO James Todd sold 1,200 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.