Vest Financial LLC Sells 9,945 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Vest Financial LLC lessened its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 70.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,143 shares of the transportation company's stock after selling 9,945 shares during the quarter. Vest Financial LLC's holdings in Landstar System were worth $622,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Landstar System in the 4th quarter worth $25,000. HM Payson & Co. bought a new stake in shares of Landstar System in the fourth quarter valued at about $26,000. Colonial Trust Co SC lifted its holdings in shares of Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. BOKF NA boosted its position in shares of Landstar System by 56.1% during the fourth quarter. BOKF NA now owns 348 shares of the transportation company's stock worth $58,000 after buying an additional 125 shares during the period. Finally, Transce3nd LLC bought a new position in shares of Landstar System during the fourth quarter worth about $60,000. Institutional investors own 97.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Stifel Nicolaus cut their target price on Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th. Benchmark reiterated a "hold" rating on shares of Landstar System in a report on Monday, April 14th. TD Cowen reduced their target price on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Truist Financial decreased their target price 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. Finally, Evercore ISI lowered their price target on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, Landstar System currently has a consensus rating of "Hold" and a consensus target price of $150.00.

Landstar System Stock Performance

NASDAQ LSTR traded up $0.80 during trading on Thursday, reaching $140.34. 258,603 shares of the company's stock were exchanged, compared to its average volume of 301,024. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The business has a 50 day moving average price of $138.13 and a 200-day moving average price of $156.72. The stock has a market capitalization of $4.90 billion, a P/E ratio of 25.42 and a beta of 0.89. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm's revenue was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be issued a $0.40 dividend. This is a boost from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, June 5th. Landstar System's dividend payout ratio is currently 31.68%.

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.