AQR Capital Management LLC Sells 61,724 Shares of Landstar System, Inc. $LSTR

AQR Capital Management LLC decreased its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 237,722 shares of the transportation company's stock after selling 61,724 shares during the quarter. AQR Capital Management LLC owned 0.68% of Landstar System worth $35,454,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LSTR. Alpine Bank Wealth Management bought a new position in shares of Landstar System in the first quarter valued at approximately $25,000. Colonial Trust Co SC lifted its holdings in shares of Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after acquiring an additional 154 shares in the last quarter. Brooklyn Investment Group lifted its stake in Landstar System by 352.2% during the 1st quarter. Brooklyn Investment Group now owns 312 shares of the transportation company's stock valued at $47,000 after acquiring an additional 243 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Landstar System by 35.3% during the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LSTR shares. Wall Street Zen lowered shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Zacks Research raised shares of Landstar System from a "strong sell" rating to a "hold" rating in a research report on Monday. Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Robert W. Baird assumed coverage on shares of Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 target price on the stock. Finally, Baird R W raised shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $145.17.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded down $3.30 during mid-day trading on Friday, reaching $129.13. The company had a trading volume of 97,621 shares, compared to its average volume of 369,708. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 27.07 and a beta of 0.84. The company's 50-day moving average price is $134.37 and its 200-day moving average price is $139.70. Landstar System, Inc. has a one year low of $123.43 and a one year high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The business's revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. As a group, equities research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 19th. Landstar System's payout ratio is currently 33.54%.

Landstar System Company 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.