Zions Bancorporation National Association UT Acquires New Position in Landstar System, Inc. (NASDAQ:LSTR)

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 acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,287 shares of the transportation company's stock, valued at approximately $1,395,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LSTR. Alpine Bank Wealth Management purchased a new position in Landstar System during the first quarter valued at approximately $25,000. Colonial Trust Co SC grew its position in Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after acquiring an additional 71 shares in the last quarter. Golden State Wealth Management LLC grew its position in Landstar System by 106.2% in the first 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 in the last quarter. First Horizon Advisors Inc. grew its position in Landstar System by 35.3% in the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after acquiring an additional 84 shares in the last quarter. Finally, Allworth Financial LP grew its position 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 acquiring an additional 127 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on LSTR. UBS Group decreased their target price on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Barclays started 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 for the company. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a report on Monday, April 14th. Finally, Evercore ISI decreased 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. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $145.17.

Landstar System Price Performance

NASDAQ:LSTR opened at $127.08 on Friday. The stock has a market cap of $4.40 billion, a P/E ratio of 26.64 and a beta of 0.86. Landstar System, Inc. has a one year low of $126.70 and a one year high of $196.86. The company has a fifty day moving average price of $138.45 and a 200 day moving average price of $144.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the company posted $1.48 EPS. The business's revenue was down 1.1% on a year-over-year basis. Analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. Landstar System's dividend payout ratio is currently 33.54%.

Landstar System 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.

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.