Russell Investments Group Ltd. Decreases Stock Position in 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. trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 0.33% of Landstar System worth $17,278,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Landstar System during the 1st quarter worth approximately $25,000. Colonial Trust Co SC lifted its holdings in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after purchasing an additional 154 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Landstar System by 35.3% in the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Landstar System by 58.5% in 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LSTR. 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 report on Wednesday, July 30th. Baird R W raised Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Barclays started coverage on Landstar System in a research report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 price objective for the company. Susquehanna set a $123.00 price target on shares of Landstar System and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Landstar System from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and an average price target of $145.17.

Landstar System Stock Up 5.6%

NASDAQ:LSTR traded up $7.3250 during mid-day trading on Friday, hitting $137.2050. The company had a trading volume of 99,916 shares, compared to its average volume of 368,749. The business has a fifty day simple moving average of $136.58 and a 200-day simple moving average of $142.60. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 1 year low of $123.43 and a 1 year high of $196.86. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 28.63 and a beta of 0.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $1.48 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System's dividend 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.