Ontario Teachers Pension Plan Board Cuts Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Key Points

• The Ontario Teachers Pension Plan Board reduced its holdings in Landstar System, Inc. by 23.2%, owning 12,511 shares valued at approximately $1.88 million at the end of the last quarter.
• Landstar System reported earnings of $1.20 per share for the last quarter, exceeding analysts' expectations, but experienced a 1.1% year-over-year revenue decline, totaling $1.21 billion.
• The company declared a quarterly dividend of $0.40 per share, set to be paid on September 9th, reflecting a 1.2% dividend yield and a payout ratio of 33.54%.

Ontario Teachers Pension Plan Board lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 23.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,511 shares of the transportation company's stock after selling 3,786 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Landstar System were worth $1,879,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 valued at $646,985,000 after acquiring an additional 521,695 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Landstar System by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company's stock valued at $248,567,000 after acquiring an additional 33,399 shares in the last quarter. Northern Trust Corp increased its stake in Landstar System by 15.6% in the fourth quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after acquiring an additional 90,672 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Landstar System by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock valued at $106,184,000 after acquiring an additional 9,190 shares during the period. Finally, First Trust Advisors LP increased its holdings in Landstar System by 28.9% during the 4th quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock valued at $90,398,000 after purchasing an additional 117,961 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LSTR has been the topic of several research reports. Evercore ISI reduced their price objective on Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. TD Cowen lowered 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. Barclays started coverage on Landstar System in a report on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Finally, Truist Financial lowered 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 report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of "Hold" and an average price target of $145.17.

Landstar System Trading Down 1.2%

Landstar System stock traded down $1.60 during trading hours on Friday, reaching $127.08. 293,850 shares of the company's stock were exchanged, compared to its average volume of 443,921. Landstar System, Inc. has a twelve month low of $126.70 and a twelve month high of $196.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm's 50 day simple moving average is $138.45 and its 200 day simple moving average is $144.97. The firm has a market capitalization of $4.40 billion, a PE ratio of 26.64 and a beta of 0.86.

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

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. Landstar System's dividend payout ratio is presently 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.