Pacer Advisors Inc. Has $364,000 Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Key Points

• Pacer Advisors Inc. significantly reduced its position in Landstar System, Inc. by 54.1% during the 1st quarter, now holding 2,423 shares valued at $364,000.
• Landstar System recently announced a dividend of $0.40 per share, with an ex-dividend date of August 19th, reflecting an annual yield of 1.2%.
• Research firms provided mixed ratings for Landstar System, with Target prices ranging from $132.00 to $166.00, and a consensus rating of "Hold."

Pacer Advisors Inc. cut its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 54.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,423 shares of the transportation company's stock after selling 2,861 shares during the period. Pacer Advisors Inc.'s holdings in Landstar System were worth $364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after buying an additional 521,695 shares in the last quarter. Norges Bank acquired a new stake in shares of Landstar System during the fourth quarter valued at approximately $54,088,000. Reinhart Partners LLC. acquired a new stake in Landstar System during the 1st quarter valued at $42,887,000. Lord Abbett & CO. LLC increased its holdings in shares of Landstar System by 116.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock valued at $47,205,000 after purchasing an additional 147,756 shares during the period. Finally, First Trust Advisors LP increased its stake in Landstar System by 28.9% in the 4th quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock valued at $90,398,000 after buying an additional 117,961 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on LSTR. Wall Street Zen lowered shares of Landstar System from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Stifel Nicolaus lowered their price objective on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a research note on Thursday. TD Cowen decreased their price objective on Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a report on Wednesday, July 30th. Jefferies Financial Group decreased their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, UBS Group reduced their target price on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $145.17.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded down $0.02 on Monday, reaching $128.35. 453,977 shares of the company's stock were exchanged, compared to its average volume of 468,915. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 26.91 and a beta of 0.86. Landstar System, Inc. has a twelve month low of $126.70 and a twelve month high of $196.86. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $139.28 and a 200-day moving average of $146.38.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The firm had revenue of $1.21 billion for 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%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. On average, research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System's 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.