Fifth Third Bancorp Has $117,000 Holdings in Landstar System, Inc. $LSTR

Fifth Third Bancorp reduced its position in Landstar System, Inc. (NASDAQ:LSTR) by 31.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 844 shares of the transportation company’s stock after selling 387 shares during the period. Fifth Third Bancorp’s holdings in Landstar System were worth $117,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in 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 purchasing an additional 213 shares during the last quarter. Golden State Wealth Management LLC increased its position in 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 purchasing an additional 154 shares during the last quarter. Brown Advisory Inc. increased its position in 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 purchasing an additional 1,961 shares during the last quarter. Envestnet Asset Management Inc. increased its position in 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 purchasing an additional 2,318 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Landstar System during the 1st quarter worth about $948,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 0.7%

Landstar System stock opened at $121.67 on Thursday. The business has a 50 day moving average price of $129.97 and a two-hundred day moving average price of $136.67. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 25.51 and a beta of 0.82. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $196.86.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. As a group, equities analysts forecast 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 was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. Landstar System’s dividend payout ratio is presently 33.54%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LSTR. Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. UBS Group decreased their price target on Landstar System from $154.00 to $149.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. Baird R W upgraded Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. Evercore ISI decreased their price target on Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, TD Cowen decreased their price target on Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus target price of $144.58.

About Landstar System

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.