Royal Bank of Canada Has $30.34 Million Holdings in Landstar System, Inc. $LSTR

Royal Bank of Canada lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 18.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,028 shares of the transportation company's stock after selling 45,332 shares during the quarter. Royal Bank of Canada owned 0.58% of Landstar System worth $30,344,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LSTR. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock valued at $613,372,000 after purchasing an additional 319,101 shares during the last quarter. Victory Capital Management Inc. increased its stake in Landstar System by 2.1% in 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 buying an additional 33,399 shares during the last quarter. Northern Trust Corp increased its stake in Landstar System by 9.1% in the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock valued at $110,285,000 after buying an additional 61,477 shares during the last quarter. Invesco Ltd. lifted its position in 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted 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 last quarter. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LSTR. Baird R W upgraded Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. TD Cowen reduced their price target on Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research report on Wednesday, July 30th. Stifel Nicolaus dropped their price objective on Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird assumed coverage on Landstar System in a report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price objective for the company. Finally, UBS Group lowered their target price on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Landstar System currently has an average rating of "Hold" and a consensus target price of $145.17.

Landstar System Stock Performance

NASDAQ LSTR traded down $3.77 during trading on Friday, reaching $128.66. 319,026 shares of the company's stock were exchanged, compared to its average volume of 347,027. The business has a 50 day moving average price of $134.02 and a 200-day moving average price of $139.50. The stock has a market capitalization of $4.46 billion, a P/E ratio of 26.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. Landstar System, Inc. has a fifty-two week low of $123.43 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share 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 return on equity of 17.49% and a net margin of 3.51%.The business's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share. Sell-side analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System's payout ratio 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.