Landstar System, Inc. $LSTR Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners cut its Landstar System stake by 25.5% in the third quarter, selling 145,035 shares and retaining 424,055 shares valued at approximately $71.5 million.
• Institutional ownership remains high at 97.95%, with several major investors—including BlackRock and First Trust Advisors—holding or increasing their positions.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year, but EPS of $1.44 missed estimates. The company raised its quarterly dividend to $0.44 per share, while analysts maintain a consensus “Hold” rating and a $191.14 price target.

Reinhart Partners LLC. lessened its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 25.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,055 shares of the transportation company's stock after selling 145,035 shares during the quarter. Landstar System comprises approximately 1.7% of Reinhart Partners LLC.'s holdings, making the stock its 28th biggest holding. Reinhart Partners LLC. owned approximately 1.25% of Landstar System worth $71,515,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LSTR. BlackRock Inc. acquired a new stake in shares of Landstar System during the 2nd quarter worth $698,683,000. First Trust Advisors LP boosted its holdings in Landstar System by 19.1% in the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company's stock valued at $179,315,000 after acquiring an additional 179,294 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Landstar System by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the transportation company's stock valued at $109,506,000 after acquiring an additional 15,825 shares during the period. Fenimore Asset Management Inc grew its position in Landstar System by 0.4% during the third quarter. Fenimore Asset Management Inc now owns 508,778 shares of the transportation company's stock valued at $85,803,000 after acquiring an additional 2,193 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Landstar System by 30.8% during the fourth quarter. Gotham Asset Management LLC now owns 340,451 shares of the transportation company's stock worth $48,923,000 after acquiring an additional 80,199 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

LSTR stock opened at $169.11 on Friday. The firm has a market cap of $5.74 billion, a P/E ratio of 43.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System, Inc. has a 1 year low of $121.11 and a 1 year high of $228.46. The stock has a 50-day simple moving average of $175.89 and a 200-day simple moving average of $186.02.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm 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 business earned $1.20 EPS. The company's revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities analysts predict that Landstar System, Inc. will post 5.88 earnings per share for the current fiscal year.

Landstar System Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on LSTR shares. Wolfe Research raised Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 price objective on the stock in a research note on Tuesday, August 4th. Stephens upgraded shares of Landstar System to a "strong-buy" rating in a report on Wednesday, July 8th. Zacks Research cut shares of Landstar System from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 4th. TD Cowen decreased their price objective on shares of Landstar System from $182.00 to $178.00 and set a "hold" rating for the company in a research note on Tuesday, July 28th. Finally, Robert W. Baird dropped their price objective on shares of Landstar System from $225.00 to $215.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $191.14.

Landstar System Company Profile

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar's services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.

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