Royal Bank of Canada Sells 45,332 Shares of Landstar System, Inc. $LSTR

Royal Bank of Canada decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,028 shares of the transportation company's stock after selling 45,332 shares during the quarter. Royal Bank of Canada owned about 0.58% of Landstar System worth $30,344,000 as of its most recent SEC filing.

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

Landstar System Trading Down 0.9%

Shares of NASDAQ LSTR traded down $1.20 during mid-day trading on Wednesday, reaching $129.74. The company had a trading volume of 351,622 shares, compared to its average volume of 371,687. The business's 50-day moving average is $134.98 and its 200-day moving average is $139.93. 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 stock has a market cap of $4.50 billion, a price-to-earnings ratio of 27.20 and a beta of 0.84. Landstar System, Inc. has a 52 week low of $123.43 and a 52 week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 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 analysts' expectations 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 business posted $1.48 earnings per share. Equities analysts expect 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 was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, August 19th. Landstar System's dividend payout ratio is presently 33.54%.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several recent analyst reports. Susquehanna set a $123.00 target price on shares of Landstar System and gave the company a "neutral" rating in a research note on Wednesday, July 30th. TD Cowen reduced their target price on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a research note on Wednesday, July 30th. Stifel Nicolaus reduced their target price 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, July 31st. Barclays initiated coverage on shares of Landstar System in a research note on Monday, June 9th. They issued an "equal weight" rating and a $145.00 target price on the stock. 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Landstar System currently has an average rating of "Hold" and an average target price of $145.17.

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.