Landstar System, Inc. $LSTR Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,925 shares of the transportation company’s stock after selling 210 shares during the period. State of Alaska Department of Revenue’s holdings in Landstar System were worth $823,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock worth $613,372,000 after acquiring an additional 319,101 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Landstar System by 2.1% in the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company’s stock worth $248,567,000 after acquiring an additional 33,399 shares during the last quarter. Northern Trust Corp boosted its position in shares of Landstar System by 9.1% in the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock worth $110,285,000 after acquiring an additional 61,477 shares during the last quarter. Invesco Ltd. boosted its position in shares of Landstar System by 1.9% in the first quarter. Invesco Ltd. now owns 462,357 shares of the transportation company’s stock worth $69,446,000 after acquiring an additional 8,623 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its position in shares of Landstar System by 49.2% in the second quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company’s stock worth $59,229,000 after acquiring an additional 140,500 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Up 1.0%

NASDAQ LSTR opened at $123.87 on Tuesday. The company’s fifty day simple moving average is $128.83 and its 200-day simple moving average is $135.96. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week 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 stock has a market cap of $4.29 billion, a P/E ratio of 25.97 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System’s payout ratio is presently 33.54%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group cut their price target on shares of Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. Zacks Research upgraded shares of Landstar System from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. TD Cowen cut their price target on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating on the stock in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Susquehanna set a $123.00 price target on shares of Landstar System and gave the company a “neutral” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $143.67.

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.