Landstar System, Inc. $LSTR Shares Sold by Trexquant Investment LP

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 lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 42.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in Landstar System during the 1st quarter worth $25,000. Colonial Trust Co SC boosted its stake in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after purchasing an additional 71 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Landstar System by 106.2% during 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 last quarter. Brooklyn Investment Group boosted its position in shares of Landstar System by 352.2% during the 1st 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 last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Landstar System by 35.3% during the 1st 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 last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LSTR shares. TD Cowen lowered their price target on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a research report on Wednesday, July 30th. Zacks Research raised shares of Landstar System from a "strong sell" rating to a "hold" rating in a research report on Monday. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Wall Street Zen cut shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $145.17.

Landstar System Trading Down 1.2%

NASDAQ LSTR traded down $1.59 during trading hours on Wednesday, reaching $129.36. The company had a trading volume of 174,165 shares, compared to its average volume of 370,594. The stock has a 50-day moving average of $134.98 and a 200 day moving average of $139.93. Landstar System, Inc. has a 1-year low of $123.43 and a 1-year high of $196.86. 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 capitalization of $4.48 billion, a P/E ratio of 27.12 and a beta of 0.84.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The business 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 quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. As a group, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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

Landstar System Company 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.