Envestnet Portfolio Solutions Inc. Acquires 3,255 Shares of Landstar System, Inc. $LSTR

Key Points

• Envestnet Portfolio Solutions Inc. has increased its stake in Landstar System, Inc. by 100.5% in the second quarter, adding 3,255 shares, bringing its total holdings to 6,495 shares valued at approximately $903,000.
• Landstar System reported $1.20 earnings per share for the last quarter, exceeding analysts' expectations, yet its revenue decreased by 1.1% compared to the same period last year.
• The company declared a quarterly dividend of $0.40 per share, with a yield of 1.2% and a payout ratio of 33.54% as of the last dividend payment date.

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 100.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,495 shares of the transportation company's stock after purchasing an additional 3,255 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Landstar System were worth $903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in 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 purchasing an additional 319,101 shares during the period. Victory Capital Management Inc. lifted its stake in Landstar System by 2.1% during the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company's stock worth $248,567,000 after purchasing an additional 33,399 shares during the period. Northern Trust Corp lifted its stake in 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 purchasing an additional 61,477 shares during the period. Invesco Ltd. raised its stake in shares of Landstar System by 1.9% in the first quarter. Invesco Ltd. now owns 462,357 shares of the transportation company's stock valued at $69,446,000 after acquiring an additional 8,623 shares during the last quarter. Finally, Reinhart Partners LLC. raised its stake in shares of Landstar System by 49.2% in the second quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company's stock valued at $59,229,000 after acquiring an additional 140,500 shares during the last quarter. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of Landstar System stock opened at $130.08 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $4.51 billion, a P/E ratio of 27.27 and a beta of 0.82. The firm has a 50 day simple moving average of $128.19 and a 200 day simple moving average of $134.63. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $196.86.

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

Landstar System Dividend Announcement

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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System's payout ratio is currently 33.54%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI cut their target price on shares of Landstar System from $132.00 to $125.00 and set an "in-line" rating for the company in a research note on Tuesday, September 30th. Zacks Research upgraded shares of Landstar System from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Stifel Nicolaus cut their target price on shares of Landstar System from $131.00 to $130.00 and set a "hold" rating for the company in a research note on Friday, October 3rd. Susquehanna set a $123.00 target price on shares of Landstar System and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, UBS Group cut their target price on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and an average target price 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.

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.