Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,393 shares of the transportation company's stock after selling 2,538 shares during the quarter. Edgestream Partners L.P. owned approximately 0.14% of Landstar System worth $7,419,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LSTR. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after buying an additional 521,695 shares during the last quarter. Norges Bank purchased a new stake in shares of Landstar System during the 4th quarter worth approximately $54,088,000. Reinhart Partners LLC. purchased a new stake in shares of Landstar System during the 1st quarter worth approximately $42,887,000. Corient Private Wealth LLC lifted its position in shares of Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after buying an additional 271,417 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Landstar System by 116.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock worth $47,205,000 after buying an additional 147,756 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of Landstar System stock traded up $1.34 on Thursday, reaching $136.50. 469,651 shares of the stock were exchanged, compared to its average volume of 307,409. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.77 billion, a PE ratio of 27.03 and a beta of 0.88. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The business has a fifty day moving average price of $140.23 and a two-hundred day moving average price of $149.30.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the company posted $1.32 earnings per share. The business's quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.17%. This is an increase from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is 31.68%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group set a $154.00 price target on Landstar System in a research note on Wednesday, May 14th. Baird R W upgraded shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Jefferies Financial Group reduced their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Robert W. Baird began coverage on shares of Landstar System in a research note on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price target for the company. Finally, TD Cowen dropped their price objective on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Landstar System presently has an average rating of "Hold" and a consensus target price of $151.31.

Landstar System 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.