Landstar System, Inc. $LSTR Holdings Increased by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its Landstar System stake by 33.3% in the third quarter to 47,819 shares valued at approximately $8.1 million. Institutional investors collectively own 97.95% of the company.
• Landstar’s third-quarter revenue rose 25.4% year over year to $1.51 billion, but earnings of $1.42 per share fell short of the $1.67 consensus estimate, partly due to higher claims and insurance costs.
• Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a $187 price target; shares recently opened at $142.70, below their 50-day and 200-day moving averages. The company also declared a quarterly dividend of $0.44 per share.

Bridge City Capital LLC lifted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,819 shares of the transportation company's stock after acquiring an additional 11,952 shares during the period. Landstar System accounts for approximately 1.7% of Bridge City Capital LLC's holdings, making the stock its 19th biggest holding. Bridge City Capital LLC owned 0.14% of Landstar System worth $8,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LSTR. Walleye Capital LLC bought a new position in shares of Landstar System during the second quarter valued at approximately $21,043,000. Bank of America Corp DE lifted its stake in Landstar System by 13.4% in the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company's stock worth $40,095,000 after acquiring an additional 29,595 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Landstar System in the second quarter worth about $6,064,000. Engineers Gate Manager LP bought a new position in Landstar System during the 2nd quarter worth about $1,485,000. Finally, The Manufacturers Life Insurance Company bought a new position in Landstar System during the 2nd quarter worth about $4,854,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on LSTR shares. Janney Montgomery Scott set a $182.00 price target on shares of Landstar System in a report on Wednesday, July 29th. The Goldman Sachs Group increased their price objective on shares of Landstar System from $147.00 to $168.00 and gave the company a "sell" rating in a research note on Thursday, July 16th. Zacks Research lowered shares of Landstar System from a "strong-buy" rating to a "hold" rating in a report on Friday, September 4th. Raymond James Financial reissued a "market perform" rating on shares of Landstar System in a research note on Wednesday. Finally, Robert W. Baird decreased their price objective on Landstar System from $215.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, October 28th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $187.00.

Landstar System Price Performance

NASDAQ LSTR opened at $142.70 on Monday. The firm's fifty day simple moving average is $170.04 and its two-hundred day simple moving average is $176.54. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 12-month low of $121.11 and a 12-month high of $228.46. The firm has a market capitalization of $4.81 billion, a P/E ratio of 30.23 and a beta of 0.89.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.67 by ($0.25). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Landstar System had a return on equity of 23.89% and a net margin of 3.03%. The business's revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. Analysts forecast that Landstar System, Inc. will post 5.75 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 17th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. Landstar System's dividend payout ratio (DPR) is 37.29%.

Key Stories Impacting Landstar System

Here are the key news stories impacting Landstar System this week:

• Positive Sentiment: Freight pricing and volumes supported growth. Landstar’s third-quarter revenue increased approximately 25% year over year to $1.51 billion, while stronger truck pricing and higher freight volumes helped the company exceed revenue expectations. LSTR Q3 Earnings Beat Estimates on Strong Freight Pricing
• Neutral Sentiment: Analysts are reassessing fair value. Robert W. Baird, Wells Fargo and JPMorgan each lowered expectations or price targets for LSTR, while other coverage described the fair-value reduction as modest. The revisions indicate that analysts see improved freight conditions but remain cautious about profitability and the outlook. Baird Price Target Cut Wells Fargo Lowers Expectations JPMorgan Pessimistic Forecast
• Negative Sentiment: Profitability missed expectations. Landstar reported quarterly earnings of $1.42 per share, below the $1.67 consensus estimate. Higher claims and insurance costs are weighing on margins, raising concerns that revenue growth may not translate into comparable earnings growth. Higher Claims Costs
• Negative Sentiment: Legal and reputational risk has increased. SueWallSt announced a pending investigation into Landstar following the earnings-related selloff. While the notice does not establish wrongdoing, it adds uncertainty for shareholders. Landstar Investigation Notice

Landstar System Profile

Landstar System, Inc NASDAQ: LSTR is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar's services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.