Landstar System, Inc. $LSTR Stock Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Landstar stake by 5.3% in the third quarter, selling 13,514 shares; it retained 241,911 shares valued at about $40.8 million.
• Landstar reported quarterly EPS of $1.42, below the $1.67 consensus, while revenue of $1.51 billion topped estimates and rose 25.4% year over year.
• The company declared a quarterly dividend of $0.44 per share, equivalent to a 1.2% yield. Analysts’ consensus rating was Hold, with an average price target of $182.33.

Boston Trust Walden Corp lowered its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 241,911 shares of the transportation company's stock after selling 13,514 shares during the quarter. Boston Trust Walden Corp owned 0.72% of Landstar System worth $40,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Landstar System in the second quarter valued at about $698,683,000. Bank of New York Mellon Corp bought a new stake in Landstar System in the second quarter valued at approximately $68,507,000. Bank of America Corp DE bought a new stake in shares of Landstar System in the 2nd quarter valued at $51,340,000. Corient Private Wealth LP acquired a new position in shares of Landstar System in the 2nd quarter valued at about $44,949,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Landstar System during the 2nd quarter worth approximately $44,195,000. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Up 0.1%

LSTR opened at $151.25 on Thursday. Landstar System, Inc. has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The firm has a market capitalization of $5.10 billion, a P/E ratio of 26.36 and a beta of 0.89. The company's 50-day moving average is $168.14 and its 200 day moving average is $176.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.79 and a quick ratio of 1.79.

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

Landstar System Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LSTR shares. Wolfe Research upgraded shares of Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 price objective on the stock in a report on Tuesday, August 4th. Truist Financial reduced their target price on Landstar System from $175.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, October 28th. Susquehanna decreased their target price on Landstar System from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday. The Goldman Sachs Group upped their price target on Landstar System from $147.00 to $168.00 and gave the stock a "sell" rating in a research note on Thursday, July 16th. Finally, Raymond James Financial restated a "market perform" rating on shares of Landstar System in a research note on Wednesday, October 28th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Landstar System currently has a consensus rating of "Hold" and a consensus price target of $182.33.

Insider Buying and Selling

In other Landstar System news, CEO Frank A. Lonegro acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average cost of $142.92 per share, with a total value of $714,600.00. Following the acquisition, the chief executive officer owned 28,110 shares in the company, valued at approximately $4,017,481.20. This represents a 21.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.74% of the company's stock.

About Landstar System

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.

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