WCM Investment Management LLC Cuts Position in Landstar System, Inc. (NASDAQ:LSTR)

WCM Investment Management LLC lessened its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,806 shares of the transportation company's stock after selling 3,567 shares during the period. WCM Investment Management LLC owned about 0.43% of Landstar System worth $22,372,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LSTR. Colonial Trust Co SC lifted its position in shares of 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. Wealth Enhancement Advisory Services LLC increased its holdings in Landstar System by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock valued at $465,000 after buying an additional 85 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Landstar System by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 6,135 shares of the transportation company's stock valued at $921,000 after buying an additional 105 shares in the last quarter. Huntington National Bank lifted its holdings in Landstar System by 12.2% during the 4th quarter. Huntington National Bank now owns 1,037 shares of the transportation company's stock worth $178,000 after buying an additional 113 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Landstar System by 10.1% during the 1st quarter. Fifth Third Bancorp now owns 1,231 shares of the transportation company's stock worth $185,000 after buying an additional 113 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Performance

LSTR stock traded down $0.50 during trading on Friday, hitting $146.06. The company had a trading volume of 178,677 shares, compared to its average volume of 303,135. The firm has a 50-day moving average price of $139.09 and a 200-day moving average price of $151.24. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $5.10 billion, a PE ratio of 28.92 and a beta of 0.88. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm posted $1.32 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.10%. This is an increase from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI cut their target price on Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research report on Wednesday, May 14th. Barclays initiated coverage on shares of Landstar System in a report on Monday, June 9th. They set an "equal weight" rating and a $145.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Landstar System in a report on Tuesday. They issued an "outperform" rating and a $166.00 target price for the company. Truist Financial dropped their target price on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen reduced their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $151.50.

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.