JPMorgan Chase & Co. Lowers Holdings in Landstar System, Inc. (NASDAQ:LSTR)

JPMorgan Chase & Co. reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTRGet Rating) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 926,628 shares of the transportation company’s stock after selling 23,639 shares during the period. JPMorgan Chase & Co. owned about 2.54% of Landstar System worth $134,751,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in LSTR. Atria Investments LLC raised its holdings in Landstar System by 11.4% in the first quarter. Atria Investments LLC now owns 7,155 shares of the transportation company’s stock valued at $1,079,000 after acquiring an additional 730 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Landstar System by 17.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,495 shares of the transportation company’s stock valued at $3,822,000 after purchasing an additional 4,013 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Landstar System by 1.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 98,120 shares of the transportation company’s stock worth $14,799,000 after purchasing an additional 1,056 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Landstar System by 3.2% during the second quarter. Aptus Capital Advisors LLC now owns 24,472 shares of the transportation company’s stock worth $3,558,000 after purchasing an additional 753 shares in the last quarter. Finally, Morris Capital Advisors LLC increased its holdings in Landstar System by 1.8% in the second quarter. Morris Capital Advisors LLC now owns 17,957 shares of the transportation company’s stock valued at $2,611,000 after buying an additional 310 shares during the last quarter. 98.90% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Up 1.0 %

Shares of NASDAQ:LSTR opened at $167.59 on Tuesday. Landstar System, Inc. has a 1-year low of $137.15 and a 1-year high of $182.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market cap of $6.02 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 0.90. The firm has a fifty day moving average price of $151.48 and a 200 day moving average price of $150.18.

Landstar System (NASDAQ:LSTRGet Rating) last announced its earnings results on Wednesday, October 19th. The transportation company reported $2.76 earnings per share for the quarter, hitting the consensus estimate of $2.76. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.79 billion. Landstar System had a net margin of 5.85% and a return on equity of 52.31%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Sell-side analysts predict that Landstar System, Inc. will post 11.77 EPS for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.72%. The ex-dividend date is Monday, November 7th. Landstar System’s dividend payout ratio is presently 9.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LSTR shares. Susquehanna upped their price objective on Landstar System from $147.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 21st. Susquehanna Bancshares increased their price target on shares of Landstar System from $147.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 21st. Benchmark assumed coverage on shares of Landstar System in a research report on Tuesday, September 6th. They set a “hold” rating for the company. Wells Fargo & Company dropped their target price on shares of Landstar System from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 12th. Finally, StockNews.com started coverage on shares of Landstar System in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, Landstar System currently has a consensus rating of “Hold” and an average price target of $150.70.

Insider Buying and Selling at Landstar System

In other Landstar System news, CEO James B. Gattoni sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $155.86, for a total transaction of $3,117,200.00. Following the completion of the sale, the chief executive officer now directly owns 74,792 shares of the company’s stock, valued at approximately $11,657,081.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

Landstar System Profile

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Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.

See Also

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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