Landstar System, Inc. $LSTR Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,828 shares of the transportation company’s stock after selling 4,205 shares during the period. Rhumbline Advisers owned 0.30% of Landstar System worth $14,295,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Landstar System by 8.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock valued at $613,372,000 after acquiring an additional 319,101 shares during the last quarter. Boston Partners raised its stake in Landstar System by 14.1% during the second quarter. Boston Partners now owns 1,418,274 shares of the transportation company’s stock worth $197,109,000 after purchasing an additional 175,157 shares during the period. Northern Trust Corp raised its stake in Landstar System by 9.1% during the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock worth $110,285,000 after purchasing an additional 61,477 shares during the period. JPMorgan Chase & Co. boosted its holdings in Landstar System by 7.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 725,343 shares of the transportation company’s stock valued at $100,837,000 after purchasing an additional 52,392 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Landstar System by 1.9% in the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company’s stock valued at $69,446,000 after buying an additional 8,623 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LSTR. Evercore ISI reduced their price target on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. Zacks Research downgraded Landstar System from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. TD Cowen decreased their price target on Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Barclays cut their price objective on Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Landstar System in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $134.60.

Landstar System Stock Up 0.1%

Shares of NASDAQ:LSTR opened at $130.84 on Friday. The firm has a market capitalization of $4.49 billion, a PE ratio of 33.38 and a beta of 0.83. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $190.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00. The firm’s 50-day moving average is $126.89 and its two-hundred day moving average is $132.93.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Landstar System’s dividend payout ratio is currently 40.82%.

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.