Trexquant Investment LP Sells 7,099 Shares of Landstar System, Inc. $LSTR

Trexquant Investment LP trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 42.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,610 shares of the transportation company’s stock after selling 7,099 shares during the quarter. Trexquant Investment LP’s holdings in Landstar System were worth $1,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in LSTR. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 8.5% in the first 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 in the last quarter. Reinhart Partners LLC. bought a new stake in shares of Landstar System in the first quarter valued at about $42,887,000. Nuveen LLC bought a new stake in shares of Landstar System in the first quarter valued at about $34,540,000. Ameriprise Financial Inc. raised its holdings in shares of Landstar System by 120.7% in the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock valued at $28,408,000 after acquiring an additional 90,391 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Landstar System by 13,120.0% in the first quarter. GAMMA Investing LLC now owns 67,290 shares of the transportation company’s stock valued at $10,107,000 after acquiring an additional 66,781 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LSTR. Evercore ISI decreased their price objective on Landstar System from $135.00 to $132.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Barclays began coverage on Landstar System in a report on Monday, June 9th. They issued an “equal weight” rating and a $145.00 price objective for the company. TD Cowen decreased their price objective on Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a report on Wednesday, July 30th. Baird R W upgraded Landstar System to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a “neutral” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $145.17.

Landstar System Stock Performance

Shares of Landstar System stock opened at $132.08 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of 27.69 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50-day simple moving average of $135.41 and a two-hundred day simple moving average of $140.44. Landstar System, Inc. has a one year low of $123.43 and a one year high of $196.86.

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

Landstar System Dividend Announcement

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