TD Asset Management Inc Reduces Stock Position in Landstar System, Inc. $LSTR

Key Points

• TD Asset Management Inc has reduced its stock position in Landstar System, Inc. by 25.5% during the second quarter, selling 4,134 shares and retaining 12,100 shares valued at approximately $1.68 million.
• Multiple institutional investors have increased their stakes in Landstar, with significant hikes in investment from firms like Brooklyn Investment Group and Geneos Wealth Management Inc..
• Analysts have adjusted their price targets for Landstar, with Barclays lowering their target from $145 to $135, while the average rating remains at "Hold" with an average target price of $142.36.

TD Asset Management Inc lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 25.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,100 shares of the transportation company's stock after selling 4,134 shares during the period. TD Asset Management Inc's holdings in Landstar System were worth $1,682,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new stake in shares of Landstar System in the first quarter worth $25,000. Geneos Wealth Management Inc. raised its position in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after buying an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company's stock worth $39,000 after buying an additional 152 shares in the last quarter. Golden State Wealth Management LLC raised its position 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 worth $45,000 after buying an additional 154 shares in the last quarter. Finally, Brooklyn Investment Group raised its position 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 worth $47,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LSTR. Barclays lowered their price objective on Landstar System from $145.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 2nd. Evercore ISI lowered their price objective on Landstar System from $132.00 to $125.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 30th. Zacks Research upgraded Landstar System from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. UBS Group reduced their target price on Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus reduced their target price on Landstar System from $131.00 to $130.00 and set a "hold" rating on the stock in a research note on Friday, October 3rd. One equities research 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 company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $142.36.

Landstar System Stock Up 2.5%

LSTR opened at $136.78 on Wednesday. The business's fifty day simple moving average is $128.47 and its 200 day simple moving average is $134.63. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $196.86. The stock has a market cap of $4.74 billion, a PE ratio of 28.68 and a beta of 0.82. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the firm earned $1.48 earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System's dividend payout ratio (DPR) is 33.54%.

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.

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.