Vanguard Group Inc. Has $499.55 Million Stake in Landstar System, Inc. $LSTR

Key Points

• Vanguard Group Inc. reduced its stake in Landstar System by 0.6%, holding approximately 3.33 million shares, valued at nearly $500 million after selling 18,498 shares.
• Landstar System has announced a quarterly dividend of $0.40 per share, with a yield of 1.2%, scheduled for payment on September 9th.
• Analysts have set a consensus price target for Landstar System at $145.17, with ratings ranging from sell to strong buy, predominantly rating the stock as a "hold."

Vanguard Group Inc. lowered its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,325,871 shares of the transportation company's stock after selling 18,498 shares during the period. Vanguard Group Inc. owned about 9.52% of Landstar System worth $499,546,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its holdings in shares of Landstar System by 56.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,125 shares of the transportation company's stock valued at $365,000 after purchasing an additional 769 shares during the last quarter. Barclays PLC increased its stake in Landstar System by 30.4% in the 4th quarter. Barclays PLC now owns 46,772 shares of the transportation company's stock valued at $8,039,000 after buying an additional 10,899 shares during the period. Mariner LLC raised its position in Landstar System by 2.0% during the fourth quarter. Mariner LLC now owns 7,627 shares of the transportation company's stock valued at $1,311,000 after acquiring an additional 151 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in Landstar System in the 4th quarter worth approximately $331,000. Finally, First Trust Advisors LP increased its stake in shares of Landstar System by 28.9% in the fourth quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock worth $90,398,000 after purchasing an additional 117,961 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Susquehanna set a $123.00 price objective on Landstar System and gave the stock a "neutral" rating in a report on Wednesday, July 30th. TD Cowen dropped their price objective on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research note on Wednesday, July 30th. Evercore ISI reduced their price objective on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, UBS Group cut their price target on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $145.17.

Landstar System Stock Performance

Landstar System stock traded up $4.06 during midday trading on Tuesday, reaching $132.81. 73,099 shares of the company's stock were exchanged, compared to its average volume of 368,696. The stock's 50-day simple moving average is $137.22 and its 200 day simple moving average is $142.99. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 27.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System, Inc. has a 52 week low of $123.43 and a 52 week high of $196.86.

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 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The firm'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 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Landstar System's dividend payout ratio (DPR) is currently 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.