Quantum Capital Management LLC NJ Decreases Stake in Landstar System, Inc. $LSTR

Key Points

• Quantum Capital Management LLC NJ reduced its stake in Landstar System by 8.9%, selling 21,886 shares, and now holds approximately 224,301 shares valued at $33.69 million.
• Landstar System's recent earnings report showed a 12% decrease in EPS compared to the previous year, with quarterly revenue of $1.21 billion matching consensus estimates.
• The firm announced a quarterly dividend of $0.40 per share, translating to an annual yield of 1.2%, with an ex-dividend date of August 19th.

Quantum Capital Management LLC NJ trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,301 shares of the transportation company's stock after selling 21,886 shares during the quarter. Landstar System makes up approximately 3.5% of Quantum Capital Management LLC NJ's investment portfolio, making the stock its 14th largest position. Quantum Capital Management LLC NJ owned approximately 0.64% of Landstar System worth $33,690,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Victory Capital Management Inc. raised its stake in shares of 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 worth $248,567,000 after buying an additional 33,399 shares during the period. Northern Trust Corp raised its stake in shares of Landstar System by 9.1% during the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock worth $110,285,000 after buying an additional 61,477 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Landstar System by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock worth $106,184,000 after buying an additional 9,190 shares during the period. Invesco Ltd. raised its stake in shares of Landstar System by 1.9% during the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company's stock worth $69,446,000 after buying an additional 8,623 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Landstar System by 2.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 438,459 shares of the transportation company's stock worth $75,354,000 after buying an additional 8,531 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LSTR. TD Cowen reduced their target price 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. Evercore ISI lowered their price target on Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their price target on Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. UBS Group decreased their target price on Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Barclays initiated coverage on Landstar System in a research note on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Landstar System currently has an average rating of "Hold" and a consensus price target of $145.17.

Landstar System Trading Up 4.5%

LSTR traded up $5.88 during mid-day trading on Friday, hitting $135.76. 413,830 shares of the stock were exchanged, compared to its average volume of 389,470. The firm's fifty day moving average is $136.54 and its two-hundred day moving average is $142.27. Landstar System, Inc. has a 1-year low of $123.43 and a 1-year 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 market cap of $4.70 billion, a PE ratio of 28.46 and a beta of 0.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.Landstar System's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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 paid a $0.40 dividend. 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 dividend payout ratio (DPR) is 33.54%.

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.