Boston Partners Lowers Stock Holdings in Landstar System, Inc. $LSTR

Key Points

• Boston Partners has reduced its stake in Landstar System by 15.1%, now owning approximately 1.2 million shares valued at $186.7 million.
• Multiple hedge funds have recently increased their holdings, with Kayne Anderson Rudnick adding 16.1%, bringing their total to nearly 3.8 million shares worth $647 million.
• Landstar System reported a quarterly earnings per share (EPS) of $1.20, surpassing analyst expectations, while revenue decreased by 1.1% year-over-year to $1.21 billion.

Boston Partners trimmed its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,243,117 shares of the transportation company's stock after selling 220,751 shares during the period. Boston Partners owned 3.56% of Landstar System worth $186,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LSTR. Ameriprise Financial Inc. boosted its holdings in Landstar System by 120.7% in the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after buying an additional 90,391 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Landstar System by 0.3% in the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company's stock valued at $12,203,000 after acquiring an additional 213 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after acquiring an additional 154 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Landstar System by 31.7% during the first quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company's stock worth $1,225,000 after purchasing an additional 1,961 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Landstar System by 1.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company's stock valued at $29,707,000 after purchasing an additional 2,318 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 0.3%

NASDAQ:LSTR traded down $0.36 on Monday, reaching $128.75. The company's stock had a trading volume of 249,832 shares, compared to its average volume of 370,746. Landstar System, Inc. has a 12-month low of $123.43 and a 12-month high of $196.86. The stock has a 50 day moving average price of $137.45 and a 200 day moving average price of $143.24. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 26.99 and a beta of 0.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The company's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.48 EPS. On average, equities analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be issued a $0.40 dividend. 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 dividend payout ratio is currently 33.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LSTR. Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Susquehanna set a $123.00 price target on shares of Landstar System and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Stifel Nicolaus lowered their price target on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a research report on Thursday, July 31st. Barclays initiated coverage on shares of Landstar System in a report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 price objective for the company. Finally, Robert W. Baird started coverage on Landstar System in a report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Landstar System has an average rating of "Hold" and a consensus target price of $145.17.

Landstar System 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.