Hsbc Holdings PLC Lowers Stake in Landstar System, Inc. $LSTR

Key Points

• Hsbc Holdings PLC has reduced its holdings in Landstar System, Inc. by 19.9%, now owning 22,023 shares worth approximately $3.29 million.
• Several institutional investors have recently modified their stakes in Landstar, with notable increases from Brooklyn Investment Group and Golden State Wealth Management LLC.
• Landstar System has reported a quarterly EPS of $1.20, slightly exceeding analysts' expectations, despite a year-over-year revenue decline of 1.1%.

Hsbc Holdings PLC decreased its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 19.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,023 shares of the transportation company's stock after selling 5,458 shares during the period. Hsbc Holdings PLC owned 0.06% of Landstar System worth $3,288,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Landstar System by 2.1% in the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company's stock worth $248,567,000 after buying an additional 33,399 shares in the last quarter. Northern Trust Corp raised its stake in Landstar System by 9.1% in the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock worth $110,285,000 after buying an additional 61,477 shares in the last quarter. Invesco Ltd. raised its stake in Landstar System by 1.9% in the first quarter. Invesco Ltd. now owns 462,357 shares of the transportation company's stock worth $69,446,000 after buying an additional 8,623 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Landstar System by 2.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 438,459 shares of the transportation company's stock worth $75,354,000 after buying an additional 8,531 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Landstar System by 2.7% in the first quarter. Raymond James Financial Inc. now owns 381,473 shares of the transportation company's stock worth $57,297,000 after buying an additional 10,147 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of LSTR traded up $0.52 during trading hours on Friday, reaching $132.33. 286,158 shares of the company traded hands, compared to its average volume of 380,166. The stock has a market capitalization of $4.59 billion, a P/E ratio of 27.74 and a beta of 0.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 12-month low of $123.43 and a 12-month high of $196.86. The business has a fifty day moving average price of $136.06 and a 200-day moving average price of $141.31.

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

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Landstar System's dividend payout ratio is presently 33.54%.

Wall Street Analyst Weigh In

LSTR has been the subject of a number of recent research reports. UBS Group reduced their price objective 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. Barclays assumed coverage on Landstar System in a research report on Monday, June 9th. They set an "equal weight" rating and a $145.00 price target on the stock. Baird R W raised Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Robert W. Baird assumed coverage on Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System currently has an average rating of "Hold" and a consensus price target of $145.17.

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.