DekaBank Deutsche Girozentrale Lowers Stock Position in Landstar System, Inc. $LSTR

Key Points

• DekaBank Deutsche Girozentrale significantly reduced its position in Landstar System by 48.7% during Q2, after selling 30,038 shares, while still holding 31,691 shares valued at $4.39 million.
• Landstar System reported $1.20 EPS for the last quarter, exceeding analysts' estimates of $1.16, with a quarterly revenue of $1.21 billion.
• The company recently declared a quarterly dividend of $0.40, yielding 1.2%, with a payout ratio of 33.54%.

DekaBank Deutsche Girozentrale cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 48.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,691 shares of the transportation company's stock after selling 30,038 shares during the period. DekaBank Deutsche Girozentrale owned 0.09% of Landstar System worth $4,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LSTR. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Landstar System by 8.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock worth $613,372,000 after acquiring an additional 319,101 shares during the last quarter. Nuveen LLC purchased a new position in shares of Landstar System during the first quarter worth approximately $34,540,000. Reinhart Partners LLC. grew its position in shares of Landstar System by 49.2% during the second quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company's stock worth $59,229,000 after acquiring an additional 140,500 shares during the last quarter. Northern Trust Corp grew its position in shares of Landstar System by 9.1% during the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock worth $110,285,000 after acquiring an additional 61,477 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of Landstar System by 20.9% during the second quarter. Boston Trust Walden Corp now owns 330,218 shares of the transportation company's stock worth $45,907,000 after acquiring an additional 56,998 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Price Performance

Landstar System stock opened at $130.17 on Friday. Landstar System, Inc. has a one year low of $119.32 and a one year high of $196.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The business has a fifty day moving average of $128.47 and a two-hundred day moving average of $134.57. The company has a market cap of $4.51 billion, a P/E ratio of 27.29 and a beta of 0.82.

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

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Landstar System's dividend payout ratio (DPR) is 33.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LSTR. Baird R W upgraded shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Zacks Research raised Landstar System from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Barclays decreased their price target on Landstar System from $145.00 to $135.00 and set an "equal weight" rating for the company in a report on Thursday, October 2nd. Wall Street Zen downgraded Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Finally, Susquehanna set a $123.00 price target on Landstar System and gave the stock a "neutral" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $142.36.

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.

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