Confluence Wealth Services Inc. Buys 351 Shares of Landstar System, Inc. $LSTR

Confluence Wealth Services Inc. increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 7,418 shares of the transportation company’s stock after buying an additional 351 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Landstar System were worth $1,031,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Landstar System during the 1st quarter worth $25,000. Geneos Wealth Management Inc. increased its holdings in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Landstar System by 118.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after buying an additional 152 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Landstar System by 106.2% during 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. Finally, Brooklyn Investment Group lifted its holdings in shares of Landstar System by 352.2% during the 1st quarter. Brooklyn Investment Group now owns 312 shares of the transportation company’s stock worth $47,000 after acquiring an additional 243 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on LSTR shares. Barclays lowered their price objective on shares of Landstar System from $145.00 to $135.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. JPMorgan Chase & Co. lowered their price target on Landstar System from $139.00 to $138.00 and set a “neutral” rating for the company in a report on Tuesday, July 8th. Evercore ISI reduced their price objective on Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Robert W. Baird started coverage on Landstar System in a research report on Tuesday, July 1st. They issued an “outperform” rating and a $166.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Landstar System in a report on Saturday, September 27th. One research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $143.67.

Landstar System Price Performance

Shares of LSTR opened at $123.87 on Tuesday. 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 $4.29 billion, a PE ratio of 25.97 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. The business has a 50-day simple moving average of $128.83 and a two-hundred day simple moving average of $135.96.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The company 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 business posted $1.48 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, August 19th. Landstar System’s dividend payout ratio is 33.54%.

Landstar System 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.