Trexquant Investment LP Lowers Stock Holdings in Landstar System, Inc. $LSTR

Key Points

• Trexquant Investment LP reduced its stake in Landstar System, Inc. by 42.5%, owning 9,610 shares worth $1,443,000 after selling 7,099 shares in the first quarter.
• Institutional interest in Landstar System remains high, with 97.95% of the stock owned by hedge funds and investors, including a 120.7% increase in holdings by Ameriprise Financial Inc.
• Landstar System announced a quarterly dividend of $0.40 per share, representing an annualized dividend yield of 1.2%, with an ex-dividend date set for August 19th.

Trexquant Investment LP lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 42.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,610 shares of the transportation company's stock after selling 7,099 shares during the quarter. Trexquant Investment LP's holdings in Landstar System were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Landstar System by 8.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock worth $613,372,000 after acquiring an additional 319,101 shares in the last quarter. Reinhart Partners LLC. acquired a new position in shares of Landstar System during the 1st quarter worth about $42,887,000. Nuveen LLC acquired a new position in shares of Landstar System during the 1st quarter worth about $34,540,000. Ameriprise Financial Inc. boosted its position in shares of Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after acquiring an additional 90,391 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Landstar System by 13,120.0% during the 1st quarter. GAMMA Investing LLC now owns 67,290 shares of the transportation company's stock worth $10,107,000 after acquiring an additional 66,781 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. TD Cowen dropped their price objective on Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a report on Wednesday, July 30th. UBS Group dropped their price objective on Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a 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 report on Thursday, July 31st. Finally, Evercore ISI dropped their price objective on Landstar System from $135.00 to $132.00 and set an "in-line" 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 assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $145.17.

Landstar System Stock Performance

NASDAQ:LSTR traded up $2.69 during mid-day trading on Thursday, reaching $132.43. The stock had a trading volume of 309,793 shares, compared to its average volume of 341,838. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 27.76 and a beta of 0.84. Landstar System, Inc. has a twelve month low of $123.43 and a twelve month high of $196.86. The business has a 50 day simple moving average of $134.37 and a 200 day simple moving average of $139.70.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results 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 net margin of 3.51% and a return on equity of 17.49%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm earned $1.48 EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System's payout ratio is presently 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.