229,957 Shares in Landstar System, Inc. $LSTR Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Landstar System, purchasing 229,957 shares valued at approximately $34.54 million in the first quarter, representing 0.66% of the company.
• Landstar System reported a quarterly earnings per share (EPS) of $1.20, exceeding analysts' estimates, but reflecting a 1.1% decline in revenue compared to the same quarter last year.
• The company's board declared a quarterly dividend of $0.40, with a payout ratio of 33.54%, to be paid to investors of record on August 19th.

Nuveen LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 229,957 shares of the transportation company's stock, valued at approximately $34,540,000. Nuveen LLC owned 0.66% of Landstar System as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in Landstar System by 16.1% during the fourth 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 purchasing an additional 521,695 shares in the last quarter. Victory Capital Management Inc. increased its holdings in 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 purchasing an additional 33,399 shares during the period. Northern Trust Corp boosted its position in Landstar System by 15.6% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in Landstar System by 1.5% during the 4th 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 in the last quarter. Finally, First Trust Advisors LP boosted its position 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 acquiring an additional 117,961 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Up 0.7%

Shares of NASDAQ LSTR traded up $0.85 during midday trading on Thursday, reaching $129.88. 254,114 shares of the company's stock traded hands, compared to its average volume of 399,922. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 27.23 and a beta of 0.86. Landstar System, Inc. has a one year low of $123.43 and a one year 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 stock's 50 day simple moving average is $136.58 and its 200-day simple moving average is $142.60.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. Landstar System's revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.48 earnings per share. On average, analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 19th. Landstar System's payout ratio is presently 33.54%.

Analysts Set New Price Targets

A number of analysts have recently commented on LSTR shares. JPMorgan Chase & Co. dropped their price target 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. TD Cowen reduced their price objective on Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research note on Wednesday, July 30th. Baird R W upgraded Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Robert W. Baird assumed coverage on shares of Landstar System in a report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $145.17.

Landstar System 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.