Vanguard Group Inc. Reduces Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Vanguard Group Inc. cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,325,871 shares of the transportation company’s stock after selling 18,498 shares during the period. Vanguard Group Inc. owned approximately 9.52% of Landstar System worth $499,546,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after purchasing an additional 521,695 shares in the last quarter. Reinhart Partners LLC. purchased a new position in shares of Landstar System during the 1st quarter worth approximately $42,887,000. Lord Abbett & CO. LLC increased its stake in shares of Landstar System by 116.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock worth $47,205,000 after purchasing an additional 147,756 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Landstar System by 28.9% during the 4th quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company’s stock worth $90,398,000 after purchasing an additional 117,961 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Landstar System by 15.6% during the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock worth $115,624,000 after purchasing an additional 90,672 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price objective on shares of Landstar System from $140.00 to $131.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. Baird R W raised shares of Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. TD Cowen dropped their price objective on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group lowered 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 note on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $145.17.

Landstar System Stock Down 1.3%

Shares of NASDAQ LSTR opened at $131.07 on Friday. Landstar System, Inc. has a 52-week low of $123.43 and a 52-week high of $196.86. The firm has a fifty day moving average of $137.67 and a 200-day moving average of $143.93. The stock has a market capitalization of $4.54 billion, a PE ratio of 27.48 and a beta of 0.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $1.48 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System’s payout ratio is currently 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.