Copeland Capital Management LLC Sells 24,825 Shares of Landstar System, Inc. $LSTR

Copeland Capital Management LLC trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400,618 shares of the transportation company’s stock after selling 24,825 shares during the quarter. Copeland Capital Management LLC owned 1.16% of Landstar System worth $49,100,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Landstar System by 16.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,609 shares of the transportation company’s stock valued at $527,000 after purchasing an additional 510 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Landstar System by 41.2% during the second quarter. Harbor Capital Advisors Inc. now owns 45,346 shares of the transportation company’s stock valued at $6,304,000 after buying an additional 13,229 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in shares of Landstar System during the second quarter valued at about $2,339,000. Perigon Wealth Management LLC bought a new stake in shares of Landstar System during the second quarter worth about $357,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Landstar System by 8.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,232 shares of the transportation company’s stock worth $5,176,000 after acquiring an additional 2,758 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

Shares of Landstar System stock opened at $146.28 on Tuesday. The business’s fifty day simple moving average is $133.46 and its 200 day simple moving average is $132.93. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $179.74. The firm has a market capitalization of $5.02 billion, a P/E ratio of 37.32 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. As a group, analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be given a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a yield of 142.0%. Landstar System’s payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial cut their price target on Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Morgan Stanley lifted their target price on Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, December 8th. TD Cowen decreased their price target on Landstar System from $135.00 to $127.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price objective on Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus target price of $136.58.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.