Landstar System, Inc. $LSTR Shares Sold by Amundi

Key Points

• Amundi slashed its Landstar System stake by 89.4% in the second quarter, selling 70,790 shares and retaining 8,383 shares valued at approximately $1.7 million. Institutional investors collectively own 97.95% of the company.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and an average price target of $196. Individual targets range from $168 to $240.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year, though earnings of $1.44 per share missed estimates by $0.05. The company also raised its quarterly dividend from $0.40 to $0.44 per share.

Amundi cut its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 89.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,383 shares of the transportation company's stock after selling 70,790 shares during the period. Amundi's holdings in Landstar System were worth $1,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Landstar System during the 2nd quarter worth about $35,000. Los Angeles Capital Management LLC acquired a new position in shares of Landstar System in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC lifted its stake in Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock worth $27,000 after purchasing an additional 144 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Landstar System during the second quarter worth $41,000. Finally, Quarry LP purchased a new position in shares of Landstar System during the third quarter worth $25,000. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on LSTR shares. Janney Montgomery Scott set a $182.00 target price on Landstar System in a report on Wednesday, July 29th. The Goldman Sachs Group increased their price target on shares of Landstar System from $147.00 to $168.00 and gave the stock a "sell" rating in a research report on Thursday, July 16th. Stifel Nicolaus raised their price objective on shares of Landstar System from $186.00 to $197.00 and gave the company a "hold" rating in a research note on Wednesday, July 29th. Zacks Research cut shares of Landstar System from a "strong-buy" rating to a "hold" rating in a report on Friday, September 4th. Finally, Wells Fargo & Company upped their target price on shares of Landstar System from $200.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Landstar System currently has a consensus rating of "Hold" and a consensus price target of $196.00.

Landstar System Stock Performance

NASDAQ:LSTR opened at $172.78 on Monday. The stock has a market cap of $5.86 billion, a P/E ratio of 44.76 and a beta of 0.90. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50-day simple moving average of $188.78 and a 200-day simple moving average of $183.96.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, analysts anticipate that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. This is an increase from Landstar System's previous quarterly dividend of $0.40. Landstar System's payout ratio is presently 45.60%.

About Landstar System

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company's operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.

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