Jacobs Levy Equity Management Inc. Has $63.60 Million Stock Position in Landstar System, Inc. $LSTR

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Landstar System by 3.4%, now holding 423,430 shares worth approximately $63.6 million as of the end of the first quarter.
• Other hedge funds have increased their positions, with Kayne Anderson Rudnick boosting its holdings by 8.5% and now owning over $613 million in Landstar stock.
• Landstar System's quarterly earnings showed a slight decline in revenue year-over-year, reporting $1.20 EPS, exceeding analysts' expectations of $1.16.

Jacobs Levy Equity Management Inc. cut its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,430 shares of the transportation company's stock after selling 15,029 shares during the period. Jacobs Levy Equity Management Inc. owned 1.21% of Landstar System worth $63,599,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. raised its holdings in shares of Landstar System by 39.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 107,000 shares of the transportation company's stock worth $16,071,000 after purchasing an additional 30,000 shares during the period. Perbak Capital Partners LLP acquired a new stake in shares of Landstar System during the first quarter worth $371,000. Vident Advisory LLC raised its holdings in shares of Landstar System by 21.1% during the first quarter. Vident Advisory LLC now owns 2,206 shares of the transportation company's stock worth $331,000 after purchasing an additional 385 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Landstar System during the first quarter worth $3,359,000. Finally, FORA Capital LLC raised its holdings in shares of Landstar System by 159.1% during the first quarter. FORA Capital LLC now owns 4,029 shares of the transportation company's stock worth $605,000 after purchasing an additional 2,474 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of Landstar System stock traded down $0.72 during midday trading on Tuesday, hitting $130.94. The company had a trading volume of 326,333 shares, compared to its average volume of 371,804. The business's 50 day simple moving average is $135.27 and its two-hundred day simple moving average is $140.00. The stock has a market cap of $4.54 billion, a PE ratio of 27.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. Landstar System, Inc. has a 1-year low of $123.43 and a 1-year high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. Landstar System's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.48 earnings per share. As a group, equities analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LSTR. UBS Group lowered their price target on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. TD Cowen reduced their price objective on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research report on Wednesday, July 30th. Robert W. Baird began coverage on shares of Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $145.17.

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.