Shelton Capital Management reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR – Free Report) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,720 shares of the transportation company’s stock after selling 84 shares during the quarter. Shelton Capital Management’s holdings in Landstar System were worth $331,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in LSTR. Your Advocates Ltd. LLP increased its stake in Landstar System by 500.0% in the 2nd quarter. Your Advocates Ltd. LLP now owns 150 shares of the transportation company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. Belpointe Asset Management LLC increased its position in shares of Landstar System by 150.7% in the first quarter. Belpointe Asset Management LLC now owns 356 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 214 shares during the last quarter. Trivant Custom Portfolio Group LLC acquired a new position in Landstar System during the first quarter valued at approximately $79,000. Bessemer Group Inc. boosted its position in Landstar System by 56.5% during the first quarter. Bessemer Group Inc. now owns 778 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 281 shares during the last quarter. Finally, Spire Wealth Management boosted its position in Landstar System by 60.9% during the first quarter. Spire Wealth Management now owns 793 shares of the transportation company’s stock valued at $142,000 after purchasing an additional 300 shares during the last quarter. 99.52% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on LSTR shares. Stephens cut their price objective on Landstar System from $210.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, October 27th. Robert W. Baird lifted their price objective on shares of Landstar System from $175.00 to $200.00 in a research report on Friday, July 28th. StockNews.com started coverage on shares of Landstar System in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Evercore ISI cut their target price on shares of Landstar System from $180.00 to $178.00 in a research note on Wednesday, September 27th. Finally, UBS Group started coverage on Landstar System in a report on Thursday, August 17th. They set a “neutral” rating and a $209.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $186.60.
Landstar System Stock Up 0.2 %
Landstar System stock opened at $173.29 on Tuesday. The company’s 50-day moving average price is $174.71 and its two-hundred day moving average price is $184.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.23 billion, a P/E ratio of 20.80 and a beta of 0.88. Landstar System, Inc. has a twelve month low of $160.05 and a twelve month high of $208.62.
Landstar System (NASDAQ:LSTR – Get Free Report) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.70 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. Landstar System had a return on equity of 31.06% and a net margin of 5.19%. The firm’s revenue for the quarter was down 29.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.76 earnings per share. As a group, analysts expect that Landstar System, Inc. will post 7.43 EPS for the current year.
Landstar System Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, November 6th. Landstar System’s dividend payout ratio is currently 15.85%.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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