Russell Investments Group Ltd. Sells 8,424 Shares of Landstar System, Inc. $LSTR

Key Points

• Russell Investments Group Ltd. reduced its stake in Landstar System, Inc. by 6.8%, owning 115,033 shares worth approximately $17.3 million after selling 8,424 shares.
• Landstar System reported $1.20 earnings per share for the last quarter, exceeding estimates, but experienced a 1.1% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.40 per share, translating to an annualized dividend yield of 1.2%.

Russell Investments Group Ltd. cut its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,033 shares of the transportation company's stock after selling 8,424 shares during the quarter. Russell Investments Group Ltd. owned 0.33% of Landstar System worth $17,278,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Alpine Bank Wealth Management bought a new stake in shares of Landstar System during the first quarter worth $25,000. Colonial Trust Co SC raised 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 during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after purchasing an additional 154 shares during the period. First Horizon Advisors Inc. lifted its holdings in 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 buying an additional 84 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Landstar System by 58.5% during the 1st quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock valued at $48,000 after purchasing an additional 127 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 2.6%

LSTR traded down $3.46 during trading on Wednesday, hitting $129.03. 430,294 shares of the stock traded hands, compared to its average volume of 371,446. Landstar System, Inc. has a 12-month low of $123.43 and a 12-month high of $196.86. The firm has a market capitalization of $4.47 billion, a P/E ratio of 27.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a 50-day moving average of $137.00 and a 200 day moving average of $142.92.

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

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be issued a $0.40 dividend. The ex-dividend date 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 is 33.54%.

Analysts Set New Price Targets

Several research analysts recently issued reports on LSTR shares. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. UBS Group decreased their price target on Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Stifel Nicolaus dropped 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 report on Thursday, July 31st. Susquehanna set a $123.00 price target on shares of Landstar System and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Truist Financial reduced their price objective on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $145.17.

About Landstar System

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.