CI Investments Inc. cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 429 shares of the transportation company's stock after selling 71 shares during the period. CI Investments Inc.'s holdings in Landstar System were worth $65,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank N A MO increased its holdings in shares of Landstar System by 821.1% in the first quarter. UMB Bank N A MO now owns 175 shares of the transportation company's stock worth $27,000 after purchasing an additional 156 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Landstar System by 124.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 260 shares of the transportation company's stock worth $39,000 after acquiring an additional 144 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Landstar System in the 1st quarter valued at about $53,000. Fieldpoint Private Securities LLC boosted its position in shares of Landstar System by 23.6% during the 1st quarter. Fieldpoint Private Securities LLC now owns 450 shares of the transportation company's stock valued at $68,000 after acquiring an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Landstar System during the first quarter worth about $80,000. 98.90% of the stock is currently owned by institutional investors.
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Landstar System Stock Up 0.6 %
Shares of NASDAQ:LSTR opened at $144.45 on Thursday. The stock's 50-day moving average is $150.27 and its 200 day moving average is $150.62. The company has a market cap of $5.26 billion, a PE ratio of 12.08, a P/E/G ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.54 and a quick ratio of 1.54. Landstar System, Inc. has a 1 year low of $137.15 and a 1 year high of $188.63.
Landstar System (NASDAQ:LSTR – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The transportation company reported $3.05 earnings per share for the quarter, missing analysts' consensus estimates of $3.25 by ($0.20). The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.02 billion. Landstar System had a return on equity of 51.73% and a net
margin of 5.89%. Landstar System's quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 earnings per share. Sell-side analysts anticipate that Landstar System, Inc. will post 11.7 EPS for the current year.
Landstar System Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 8th were issued a dividend of $0.30 per share. This is an increase from Landstar System's previous quarterly dividend of $0.25. The ex-dividend date was Friday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.83%. Landstar System's dividend payout ratio is 10.03%.
Analyst Ratings Changes
Several brokerages have issued reports on LSTR. Wells Fargo & Company dropped their target price on shares of Landstar System from $165.00 to $147.00 and set an "equal weight" rating for the company in a research report on Friday, July 15th. Benchmark began coverage on Landstar System in a research note on Tuesday. They issued a "hold" rating on the stock. StockNews.com lowered Landstar System from a "buy" rating to a "hold" rating in a research note on Saturday, September 3rd. Susquehanna Bancshares decreased their price target on shares of Landstar System from $155.00 to $153.00 and set a "neutral" rating on the stock in a research note on Friday, July 22nd. Finally, Evercore ISI cut their price objective on shares of Landstar System from $173.00 to $161.00 and set an "in-line" rating for the company in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, Landstar System has a consensus rating of "Hold" and an average price target of $162.08.
Insider Activity
In related news, COO Joseph J. Beacom sold 2,863 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $156.56, for a total value of $448,231.28. Following the completion of the transaction, the chief operating officer now directly owns 17,805 shares in the company, valued at approximately $2,787,550.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.
Landstar System Company Profile
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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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