9,287 Shares in Landstar System, Inc. (NASDAQ:LSTR) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation has acquired a new position in Landstar System, Inc., purchasing 9,287 shares valued at approximately $1,395,000.
• Landstar's quarterly earnings report showed an EPS of $1.20, beating estimates, but a 1.1% decline in revenue compared to the previous year.
• The stock has a consensus rating of "Hold" from analysts, with an average target price of $145.17.

Zions Bancorporation National Association UT bought a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,287 shares of the transportation company's stock, valued at approximately $1,395,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LSTR. Alpine Bank Wealth Management purchased a new position in shares of Landstar System during the 1st quarter valued at about $25,000. Colonial Trust Co SC boosted its stake in shares of Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after purchasing an additional 154 shares during the last quarter. First Horizon Advisors Inc. raised its position in Landstar System by 35.3% in the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after purchasing an additional 84 shares during the period. Finally, Allworth Financial LP lifted its stake in Landstar System by 58.5% in the first quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock worth $48,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LSTR. TD Cowen decreased their price target on Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a research note on Wednesday, July 30th. Baird R W upgraded shares of Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Robert W. Baird initiated coverage on shares of Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price target for the company. Evercore ISI decreased their price objective on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a research report on Wednesday, July 30th. Finally, Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Landstar System presently has a consensus rating of "Hold" and an average target price of $145.17.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded down $2.64 during trading on Thursday, reaching $130.22. The company had a trading volume of 78,341 shares, compared to its average volume of 371,217. Landstar System, Inc. has a fifty-two week low of $123.43 and a fifty-two week high of $196.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. The stock's fifty day moving average price is $137.85 and its 200 day moving average price is $144.25. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 27.31 and a beta of 0.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced 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. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. As a group, equities research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, August 19th. Landstar System's dividend payout ratio (DPR) is 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.