Swiss National Bank Cuts Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Swiss National Bank lessened its stake in Landstar System, Inc. (NASDAQ:LSTR) by 1.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 68,500 shares of the transportation company’s stock after selling 1,200 shares during the quarter. Swiss National Bank’s holdings in Landstar System were worth $10,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after acquiring an additional 521,695 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Landstar System by 2.1% in the 1st 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 in the last quarter. Northern Trust Corp increased its holdings in Landstar System by 15.6% in the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock worth $115,624,000 after acquiring an additional 90,672 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Landstar System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company’s stock worth $106,184,000 after acquiring an additional 9,190 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Landstar System by 28.9% in the 4th quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company’s stock worth $90,398,000 after acquiring an additional 117,961 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Trading Down 1.5%

Shares of LSTR stock opened at $129.11 on Friday. The company’s 50-day moving average price is $137.45 and its 200-day moving average price is $143.61. 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 $4.47 billion, a price-to-earnings ratio of 27.07 and a beta of 0.86. Landstar System, Inc. has a twelve month low of $123.43 and a twelve month high of $196.86.

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

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Landstar System’s dividend payout ratio is presently 33.54%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LSTR. Evercore ISI lowered their target price on shares of Landstar System from $135.00 to $132.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 30th. Robert W. Baird began coverage on shares of Landstar System in a research note on Tuesday, July 1st. They set an “outperform” rating and a $166.00 target price on the stock. Truist Financial lowered their target price on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of Landstar System from $139.00 to $138.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 8th. Finally, UBS Group lowered their target price on shares of Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $145.17.

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.