Invesco Ltd. Boosts Stock Holdings in Landstar System, Inc. $LSTR

Key Points

• Invesco Ltd. increased its stake in Landstar System, Inc. by 1.9%, owning 462,357 shares worth approximately $69.4 million as of its latest filing.
• Institutional investors and hedge funds collectively own about 97.95% of Landstar's stock, with several recently adjusting their stakes significantly.
• Analysts have a consensus rating of "Hold" on Landstar shares, with a price target averaging $145.17, reflecting mixed views on the stock's performance.

Invesco Ltd. grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 462,357 shares of the transportation company's stock after acquiring an additional 8,623 shares during the period. Invesco Ltd. owned 1.32% of Landstar System worth $69,446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LSTR. Alpine Bank Wealth Management purchased a new stake in shares of Landstar System during the first quarter worth $25,000. Colonial Trust Co SC lifted its position in shares of Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after acquiring an additional 71 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after acquiring an additional 154 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after acquiring an additional 84 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Landstar System by 58.5% during the first quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock worth $48,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LSTR shares. Truist Financial dropped their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. UBS Group decreased their price target on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Baird R W raised shares of Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $145.17.

Landstar System Price Performance

LSTR traded up $0.85 during trading on Thursday, reaching $129.88. The stock had a trading volume of 254,114 shares, compared to its average volume of 399,922. The stock has a market cap of $4.50 billion, a PE ratio of 27.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System, Inc. has a one year low of $123.43 and a one year high of $196.86. The business has a 50-day moving average of $136.58 and a 200-day moving average of $142.60.

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. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. As a group, equities research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Landstar System's dividend payout ratio is currently 33.54%.

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.