Nisa Investment Advisors LLC Sells 3,342 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Nisa Investment Advisors LLC decreased its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,735 shares of the transportation company's stock after selling 3,342 shares during the period. Nisa Investment Advisors LLC's holdings in Landstar System were worth $2,063,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LSTR. Linden Thomas Advisory Services LLC increased its position in shares of Landstar System by 2.3% during the first quarter. Linden Thomas Advisory Services LLC now owns 8,300 shares of the transportation company's stock worth $1,247,000 after buying an additional 187 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Landstar System by 94.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 61,729 shares of the transportation company's stock worth $9,002,000 after buying an additional 30,038 shares during the period. 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 buying an additional 1,961 shares during the period. TD Private Client Wealth LLC increased its position in shares of Landstar System by 18.1% during the first quarter. TD Private Client Wealth LLC now owns 853 shares of the transportation company's stock worth $128,000 after buying an additional 131 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Landstar System by 1.2% during the first quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company's stock worth $29,707,000 after buying an additional 2,318 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Up 1.0%

LSTR stock traded up $1.34 during trading on Thursday, hitting $136.50. 469,651 shares of the stock traded hands, compared to its average volume of 307,409. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. The firm's 50 day moving average is $140.23 and its two-hundred day moving average is $149.30. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 27.03 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.32 earnings per share. On average, sell-side analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were issued a $0.40 dividend. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Analyst Ratings Changes

LSTR has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. 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 target for the company. Truist Financial reduced their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. Finally, TD Cowen dropped their price objective on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $151.31.

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.