Vestmark Advisory Solutions Inc. Boosts Position in Landstar System, Inc. $LSTR

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Landstar System by 92.9%, owning 39,136 shares worth approximately $5.88 million as of the latest SEC filing.
• Landstar System's quarterly earnings reported an EPS of $1.20, surpassing analysts' expectations of $1.16, despite a 1.1% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.40, resulting in an annualized yield of 1.2% for shareholders, with a payout ratio of 33.54%.

Vestmark Advisory Solutions Inc. lifted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 92.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,136 shares of the transportation company's stock after acquiring an additional 18,847 shares during the period. Vestmark Advisory Solutions Inc. owned 0.11% of Landstar System worth $5,878,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after purchasing an additional 521,695 shares during the period. Reinhart Partners LLC. bought a new stake in shares of Landstar System during the first quarter valued at approximately $42,887,000. Nuveen LLC purchased a new position in shares of Landstar System in the first quarter worth $34,540,000. Lord Abbett & CO. LLC boosted its position in shares of Landstar System by 116.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock worth $47,205,000 after acquiring an additional 147,756 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Landstar System by 28.9% during the fourth quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock valued at $90,398,000 after acquiring an additional 117,961 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LSTR shares. TD Cowen reduced their price target on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a report on Wednesday, July 30th. Wall Street Zen cut Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Robert W. Baird began coverage on Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 target price on the stock. Susquehanna set a $123.00 price target on Landstar System and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price objective on Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $145.17.

Landstar System Trading Down 2.6%

LSTR stock traded down $3.46 during midday trading on Wednesday, reaching $129.03. 430,294 shares of the company traded hands, compared to its average volume of 397,728. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 27.05 and a beta of 0.86. Landstar System, Inc. has a 52-week low of $123.43 and a 52-week high of $196.86. The business has a 50 day moving average of $136.79 and a 200-day moving average of $142.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.40 per share. 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 33.54%.

Landstar System Company Profile

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.