Principal Financial Group Inc. Trims Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Principal Financial Group Inc. trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,075 shares of the transportation company’s stock after selling 16,752 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of Landstar System worth $21,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. purchased a new position in shares of Landstar System during the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Montag A & Associates Inc. purchased a new position in Landstar System during the 4th quarter worth approximately $48,000. Fidelis Capital Partners LLC purchased a new position in Landstar System during the 1st quarter worth approximately $86,000. Finally, GAMMA Investing LLC increased its position in Landstar System by 58.1% during the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Trading Up 1.1 %

NASDAQ:LSTR opened at $182.56 on Tuesday. The company has a market capitalization of $6.53 billion, a PE ratio of 28.09 and a beta of 0.80. Landstar System, Inc. has a 52-week low of $161.13 and a 52-week high of $201.40. The stock has a fifty day simple moving average of $184.93 and a 200-day simple moving average of $183.58. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $1.85 earnings per share. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, equities research analysts expect that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.36 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 20th. This represents a $1.44 annualized dividend and a yield of 0.79%. Landstar System’s dividend payout ratio (DPR) is presently 22.15%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LSTR shares. Evercore ISI increased their price objective on Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Raymond James lowered their price objective on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research cut shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Morgan Stanley lowered their price target on Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Susquehanna upped their price objective on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $179.73.

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.