Landstar System, Inc. $LSTR Stake Trimmed by Corient Private Wealth LP

Corient Private Wealth LP lowered its stake in Landstar System, Inc. (NASDAQ:LSTR) by 28.2% during the second quarter, HoldingsChannel reports. The firm owned 218,495 shares of the transportation company’s stock after selling 85,919 shares during the period. Corient Private Wealth LP’s holdings in Landstar System were worth $45,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Landstar System by 20,011.2% in the second quarter. California State Teachers Retirement System now owns 8,234,347 shares of the transportation company’s stock worth $1,702,945,000 after buying an additional 8,193,403 shares during the period. BlackRock Inc. purchased a new position in shares of Landstar System in the second quarter worth approximately $698,683,000. AQR Capital Management LLC raised its holdings in shares of Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after acquiring an additional 641,319 shares during the period. Millennium Management LLC lifted its position in shares of Landstar System by 910.2% in the 4th quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock valued at $77,868,000 after acquiring an additional 488,238 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Landstar System by 5,643.4% in the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock valued at $55,577,000 after acquiring an additional 380,024 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. increased their target price on Landstar System from $198.00 to $204.00 and gave the company a “neutral” rating in a 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 report on Tuesday, July 28th. Wall Street Zen lowered Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Janney Montgomery Scott set a $182.00 price objective on Landstar System in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Landstar System has an average rating of “Hold” and an average target price of $196.00.

Landstar System Stock Down 0.5%

Landstar System stock opened at $172.78 on Friday. The firm has a market cap of $5.86 billion, a PE ratio of 44.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The firm’s 50 day moving average price is $188.78 and its two-hundred day moving average price is $183.69. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46.

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

Landstar System Increases Dividend

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

Insider Transactions at Landstar System

In related news, CFO James Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.74% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company’s operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.