Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Landstar System, Inc. by 21.3%, leaving it with 7,000 shares valued at approximately $1,051,000.
• Landstar System's most recent earnings report showed earnings per share of $0.85, missing estimates by $0.07, with a revenue of $1.15 billion.
• The company has announced an increase in its quarterly dividend to $0.40 per share, reflecting a dividend yield of 1.13%.

KLP Kapitalforvaltning AS lessened its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the transportation company's stock after selling 1,900 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Landstar System were worth $1,051,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LSTR. Alpine Bank Wealth Management bought a new position in shares of Landstar System during the 1st quarter worth approximately $25,000. Colonial Trust Co SC raised its stake in shares of Landstar System by 61.7% during the 4th 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 raised its stake in shares of Landstar System by 106.2% during the 1st 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. raised its stake in shares of Landstar System by 35.3% during the 1st 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 raised its stake in shares of Landstar System by 58.5% during the 1st 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. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of LSTR stock traded down $3.73 during trading hours on Friday, hitting $129.65. The company's stock had a trading volume of 98,490 shares, compared to its average volume of 370,499. The company has a 50 day moving average of $139.46 and a 200 day moving average of $147.11. The stock has a market cap of $4.53 billion, a PE ratio of 27.25 and a beta of 0.88. The company has a current ratio of 2.00, a quick ratio of 2.03 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating 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%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. On average, sell-side analysts forecast 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 19th. Landstar System's payout ratio is currently 31.68%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Robert W. Baird started coverage on shares of Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 target price on the stock. Benchmark reissued a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.