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

Other institutional investors also recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in shares of Landstar System during the first quarter valued at about $800,000. US Bancorp DE raised its position in shares of Landstar System by 5.0% during the first quarter. US Bancorp DE now owns 5,158 shares of the transportation company's stock worth $775,000 after purchasing an additional 246 shares during the period. Bayforest Capital Ltd raised its position in shares of Landstar System by 2,700.0% during the first 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 during the period. XTX Topco Ltd acquired a new position in shares of Landstar System during the first quarter worth approximately $555,000. Finally, Richards Merrill & Peterson Inc. raised its position in shares of Landstar System by 6.1% during the first quarter. Richards Merrill & Peterson Inc. now owns 3,098 shares of the transportation company's stock worth $465,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LSTR. TD Cowen lowered their target price on Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a research report on Wednesday, July 30th. Benchmark restated a "hold" rating on shares of Landstar System in a report on Monday, April 14th. Stifel Nicolaus lowered their price objective on Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. cut their target price on Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Finally, Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $145.17.

Landstar System Stock Up 3.0%

NASDAQ:LSTR traded up $3.76 on Tuesday, hitting $130.02. The stock had a trading volume of 88,896 shares, compared to its average volume of 371,666. The stock has a market cap of $4.51 billion, a P/E ratio of 27.20 and a beta of 0.86. 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, Inc. has a 1 year low of $123.43 and a 1 year high of $196.86. The firm's fifty day simple moving average is $138.22 and its two-hundred day simple moving average is $144.43.

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, topping the consensus estimate of $1.16 by $0.04. The business 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 firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 EPS. Analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Landstar System's dividend payout ratio (DPR) is 33.54%.

About Landstar System

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.