United Services Automobile Association Makes New Investment in Landstar System, Inc. $LSTR

Key Points

• United Services Automobile Association acquired 2,329 shares of Landstar System, Inc. (NASDAQ:LSTR) valued at approximately $343,000 during Q1 2023.
• Landstar System reported $1.20 earnings per share for the last quarter, exceeding analysts' expectations of $1.16, but experienced a 1.1% decrease in revenue year-over-year.
• The company announced a quarterly $0.40 dividend with a yield of 1.2% and a payout ratio of 33.54%, benefiting shareholders as of August 19th.

United Services Automobile Association acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,329 shares of the transportation company's stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LSTR. Alpine Bank Wealth Management acquired a new stake in Landstar System in the 1st quarter valued at about $25,000. Golden State Wealth Management LLC grew its holdings 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 acquiring an additional 154 shares during the period. Brooklyn Investment Group grew its stake in shares of Landstar System by 352.2% during the first quarter. Brooklyn Investment Group now owns 312 shares of the transportation company's stock worth $47,000 after purchasing an additional 243 shares during the period. First Horizon Advisors Inc. grew 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 worth $48,000 after buying an additional 84 shares during the period. Finally, Allworth Financial LP grew 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 worth $48,000 after buying an additional 127 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LSTR. Stifel Nicolaus decreased their price target on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a report on Thursday, July 31st. Zacks Research upgraded shares of Landstar System from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Evercore ISI cut their price target on Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. Robert W. Baird started coverage on Landstar System in a report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price target for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $145.17.

Landstar System Stock Performance

Landstar System stock traded down $0.14 during trading on Wednesday, hitting $131.07. The stock had a trading volume of 30,068 shares, compared to its average volume of 368,249. Landstar System, Inc. has a 1 year low of $123.43 and a 1 year high of $196.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average is $133.51 and its two-hundred day moving average is $138.99. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 27.48 and a beta of 0.84.

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. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The company's revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.40 per share. The ex-dividend date was 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 (DPR) is presently 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.