Equitable Trust Co. Buys 2,503 Shares of Landstar System, Inc. $LSTR

Key Points

• Equitable Trust Co. increased its stake in Landstar System, Inc. by 60.6% during the second quarter, purchasing an additional 2,503 shares to bring its total to 6,636 shares worth approximately $923,000.
• Landstar System posted earnings of $1.20 EPS for the last quarter, exceeding estimates, but reported a 1.1% decline in revenue compared to the previous year.
• The company's stock has a current market capitalization of $4.40 billion and recently declared a dividend of $0.40 per share, reflecting an annualized yield of 1.3%.

Equitable Trust Co. increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 60.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,636 shares of the transportation company's stock after buying an additional 2,503 shares during the quarter. Equitable Trust Co.'s holdings in Landstar System were worth $923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. increased its holdings 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 purchasing an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Landstar System by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock valued at $465,000 after purchasing an additional 85 shares in the last quarter. State of Michigan Retirement System increased its holdings in Landstar System by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company's stock valued at $1,272,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Landstar System by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company's stock valued at $1,487,000 after purchasing an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. increased its holdings in Landstar System by 3.8% during the 1st quarter. Securian Asset Management Inc. now owns 2,744 shares of the transportation company's stock valued at $412,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Up 1.7%

NASDAQ:LSTR opened at $127.06 on Wednesday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $196.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.40 billion, a P/E ratio of 26.64 and a beta of 0.82. The stock's fifty day simple moving average is $128.20 and its 200-day simple moving average is $135.11.

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

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, August 19th. Landstar System's dividend payout ratio (DPR) is currently 33.54%.

Analyst Ratings Changes

A number of research firms recently weighed in on LSTR. Barclays dropped 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. Stifel Nicolaus dropped their price target on Landstar System from $131.00 to $130.00 and set a "hold" rating for the company in a report on Friday, October 3rd. TD Cowen lowered their target price on Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lowered their target price on Landstar System from $147.00 to $138.00 and set a "neutral" rating for the company in a research note on Wednesday, October 8th. Finally, Zacks Research raised Landstar System from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $142.36.

About Landstar System

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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