20,761 Landstar System, Inc. $LSTR Shares Purchased by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its Landstar System stake by 6.5% in the third quarter, acquiring 20,761 shares to own 340,739 shares valued at approximately $57.5 million.
• Institutional investors hold 97.95% of Landstar’s stock, while analysts maintain a consensus “Hold” rating with an average price target of $191.14.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year, though earnings per share of $1.44 missed estimates. The company also raised its quarterly dividend to $0.44 per share, representing a 1.1% yield.

Copeland Capital Management LLC lifted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 340,739 shares of the transportation company's stock after acquiring an additional 20,761 shares during the quarter. Landstar System accounts for about 1.3% of Copeland Capital Management LLC's holdings, making the stock its 27th biggest holding. Copeland Capital Management LLC owned approximately 1.00% of Landstar System worth $57,464,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LSTR. BlackRock Inc. bought a new stake in Landstar System in the second quarter worth $698,683,000. Bank of New York Mellon Corp purchased a new stake in Landstar System during the second quarter valued at about $68,507,000. Bank of America Corp DE bought a new position in shares of Landstar System during the second quarter valued at about $51,340,000. Corient Private Wealth LP bought a new position in shares of Landstar System during the second quarter valued at about $44,949,000. Finally, Jupiter Topco LLC bought a new position in shares of Landstar System during the second quarter valued at about $44,195,000. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on LSTR shares. Wall Street Zen lowered Landstar System from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Stifel Nicolaus lifted their target price on shares of Landstar System from $186.00 to $197.00 and gave the stock a "hold" rating in a research note on Wednesday, July 29th. Stephens upgraded shares of Landstar System to a "strong-buy" rating in a report on Wednesday, July 8th. Susquehanna upped their price target on shares of Landstar System from $195.00 to $230.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, Wolfe Research raised shares of Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 price target for the company in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $191.14.

Landstar System Stock Down 1.0%

Shares of NASDAQ LSTR opened at $167.03 on Wednesday. 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, Inc. has a 12 month low of $121.11 and a 12 month high of $228.46. The firm has a market capitalization of $5.67 billion, a PE ratio of 33.35 and a beta of 0.90. The firm has a fifty day simple moving average of $175.44 and a two-hundred day simple moving average of $186.43.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company's revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts expect that Landstar System, Inc. will post 5.88 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. 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. Landstar System's payout ratio is presently 45.60%.

Landstar System Profile

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar's services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.

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