Creative Planning Sells 292 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Creative Planning reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,993 shares of the transportation company’s stock after selling 292 shares during the quarter. Creative Planning’s holdings in Landstar System were worth $754,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Landstar System by 6.2% in the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after acquiring an additional 99,461 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Landstar System by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after purchasing an additional 42,740 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Landstar System by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock valued at $109,743,000 after acquiring an additional 37,020 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Landstar System in the 1st quarter valued at $5,366,000. Finally, Vanguard Group Inc. grew its holdings in Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after buying an additional 25,387 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Price Performance

Landstar System stock opened at $177.20 on Monday. Landstar System, Inc. has a 52 week low of $165.39 and a 52 week high of $201.40. The business has a 50-day simple moving average of $182.96 and a 200 day simple moving average of $182.52. The company has a quick ratio of 2.17, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 30.39 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm earned $1.71 earnings per share. Landstar System’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts forecast that Landstar System, Inc. will post 5.74 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s payout ratio is currently 24.70%.

Wall Street Analyst Weigh In

LSTR has been the topic of several analyst reports. Evercore ISI reduced their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. Raymond James lowered their target price on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. The Goldman Sachs Group cut their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens dropped their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus price target of $174.25.

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.