Quantum Capital Management LLC NJ Has $33.69 Million Position 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 cut its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 224,301 shares of the transportation company's stock after selling 21,886 shares during the period. Landstar System comprises about 3.5% of Quantum Capital Management LLC NJ's portfolio, making the stock its 14th largest position. Quantum Capital Management LLC NJ owned approximately 0.64% of Landstar System worth $33,690,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Landstar System in the first quarter worth $25,000. Colonial Trust Co SC increased its position in shares of Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after acquiring an additional 71 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after acquiring an additional 154 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Landstar System by 352.2% during the first quarter. Brooklyn Investment Group now owns 312 shares of the transportation company's stock worth $47,000 after acquiring an additional 243 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after acquiring an additional 84 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LSTR has been the subject of several research reports. Evercore ISI lowered their price objective on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Susquehanna set a $123.00 price objective on shares of Landstar System and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Barclays initiated coverage on shares of Landstar System in a research report on Monday, June 9th. They set an "equal weight" rating and a $145.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $145.17.

Landstar System Stock Down 1.4%

Landstar System stock traded down $1.8750 during mid-day trading on Monday, reaching $133.8850. The company's stock had a trading volume of 97,164 shares, compared to its average volume of 369,245. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 28.04 and a beta of 0.86. Landstar System, Inc. has a 12 month low of $123.43 and a 12 month high of $196.86. The business's 50 day simple moving average is $136.54 and its 200 day simple moving average is $142.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. The business 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%. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. As a group, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Landstar System's dividend payout ratio (DPR) is 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.