Royal Bank of Canada Reduces Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Royal Bank of Canada cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,360 shares of the transportation company's stock after selling 63,141 shares during the period. Royal Bank of Canada owned about 0.70% of Landstar System worth $42,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Landstar System during the fourth quarter worth about $25,000. HM Payson & Co. acquired a new position in shares of Landstar System during the fourth quarter worth about $26,000. Colonial Trust Co SC grew 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 buying an additional 71 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Landstar System during the fourth quarter worth about $60,000. Finally, BOKF NA grew its position in shares of Landstar System by 56.1% during the fourth quarter. BOKF NA now owns 348 shares of the transportation company's stock worth $58,000 after buying an additional 125 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Susquehanna lowered their price objective on Landstar System from $130.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a report on Monday, April 14th. Wall Street Zen downgraded Landstar System from a "hold" rating to a "sell" rating in a report on Thursday. UBS Group set a $154.00 price objective on Landstar System in a report on Wednesday, May 14th. Finally, Stifel Nicolaus decreased their price objective on Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $150.42.

Landstar System Stock Performance

Shares of NASDAQ LSTR traded down $1.31 during mid-day trading on Friday, hitting $137.01. 219,777 shares of the company were exchanged, compared to its average volume of 294,408. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $140.25 and a 200-day simple moving average of $160.69. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 24.82 and a beta of 0.92.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The company's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS. On average, sell-side analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be given a $0.40 dividend. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.17%. Landstar System's dividend payout ratio is presently 31.68%.

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.