LPL Financial LLC Cuts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

LPL Financial LLC trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,208 shares of the transportation company’s stock after selling 507 shares during the period. LPL Financial LLC owned about 0.06% of Landstar System worth $3,040,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock worth $28,408,000 after buying an additional 90,391 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Landstar System by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock worth $12,203,000 after acquiring an additional 213 shares during the period. Golden State Wealth Management LLC grew its holdings in shares of Landstar System by 106.2% in the 1st 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 during the period. Brown Advisory Inc. grew its holdings in shares of Landstar System by 31.7% in the 1st quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock worth $1,225,000 after acquiring an additional 1,961 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Landstar System by 1.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock worth $29,707,000 after acquiring an additional 2,318 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

LSTR stock opened at $129.11 on Friday. The stock has a 50-day moving average price of $137.45 and a two-hundred day moving average price of $143.41. Landstar System, Inc. has a 12-month low of $123.43 and a 12-month high of $196.86. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.47 billion, a PE ratio of 27.07 and a beta of 0.86.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results 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 return on equity of 17.49% and a net margin of 3.51%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be given a $0.40 dividend. 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 dividend payout ratio is presently 33.54%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Landstar System from $139.00 to $138.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Susquehanna set a $123.00 price target on Landstar System and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Barclays began coverage on Landstar System in a report on Monday, June 9th. They issued an “equal weight” rating and a $145.00 price target on the stock. Baird R W upgraded Landstar System to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, UBS Group cut their price target on Landstar System from $154.00 to $149.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $145.17.

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.