Natixis Advisors LLC decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,702 shares of the transportation company's stock after selling 11,390 shares during the period. Natixis Advisors LLC owned 0.33% of Landstar System worth $17,078,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd grew its position in Landstar System by 2,700.0% during the 1st quarter. Bayforest Capital Ltd now owns 2,632 shares of the transportation company's stock worth $395,000 after purchasing an additional 2,538 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Landstar System during the 1st quarter valued at $555,000. Richards Merrill & Peterson Inc. grew its holdings in shares of Landstar System by 6.1% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 3,098 shares of the transportation company's stock valued at $465,000 after acquiring an additional 179 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Landstar System by 8.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,933 shares of the transportation company's stock valued at $1,492,000 after acquiring an additional 786 shares in the last quarter. Finally, Equitable Trust Co. lifted its stake in shares of Landstar System by 25.1% in the 1st quarter. Equitable Trust Co. now owns 4,133 shares of the transportation company's stock valued at $621,000 after purchasing an additional 828 shares during the last quarter. Institutional investors own 97.95% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Truist Financial reduced their price objective on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Barclays assumed coverage on shares of Landstar System in a research report on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price for the company. TD Cowen dropped their price target on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus reduced their target price 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Landstar System currently has an average rating of "Hold" and an average price target of $145.17.
Get Our Latest Stock Analysis on Landstar System
Landstar System Stock Up 1.7%
Landstar System stock traded up $2.18 during mid-day trading on Tuesday, reaching $130.53. The company's stock had a trading volume of 587,989 shares, compared to its average volume of 474,850. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 27.36 and a beta of 0.86. Landstar System, Inc. has a 12 month low of $126.70 and a 12 month high of $196.86. The business's 50 day simple moving average is $138.94 and its 200 day simple moving average is $145.95. 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 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. As a group, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current year.
Landstar System Announces Dividend
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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Landstar System's payout ratio is presently 33.54%.
Landstar System Profile
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Free Report)
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.
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