Morris Capital Advisors LLC raised its holdings in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,957 shares of the transportation company's stock after purchasing an additional 310 shares during the period. Landstar System comprises 2.3% of Morris Capital Advisors LLC's holdings, making the stock its 21st largest position. Morris Capital Advisors LLC's holdings in Landstar System were worth $2,611,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Ritholtz Wealth Management lifted its position in Landstar System by 1,382.7% during the second quarter. Ritholtz Wealth Management now owns 28,335 shares of the transportation company's stock worth $4,121,000 after buying an additional 26,424 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Landstar System by 3.0% during the 2nd quarter. Private Advisor Group LLC now owns 3,817 shares of the transportation company's stock worth $555,000 after acquiring an additional 110 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Landstar System during the 2nd quarter worth about $321,000. American Trust acquired a new position in shares of Landstar System during the 1st quarter worth about $360,000. Finally, Bank of America Corp DE boosted its position in shares of Landstar System by 5.9% in the 1st quarter. Bank of America Corp DE now owns 369,671 shares of the transportation company's stock valued at $55,759,000 after purchasing an additional 20,647 shares during the period. 98.90% of the stock is owned by institutional investors and hedge funds.
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Insider Buying and Selling at Landstar System
In other Landstar System news, COO Joseph J. Beacom sold 2,863 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $156.56, for a total transaction of $448,231.28. Following the sale, the chief operating officer now owns 17,805 shares in the company, valued at approximately $2,787,550.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.
Landstar System Price Performance
Shares of LSTR traded up $0.20 on Friday, reaching $142.81. The stock had a trading volume of 16,150 shares, compared to its average volume of 333,408. The firm has a market capitalization of $5.20 billion, a PE ratio of 11.82, a PEG ratio of 1.03 and a beta of 0.94. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average of $150.07 and a 200 day moving average of $149.89. Landstar System, Inc. has a twelve month low of $137.15 and a twelve month high of $188.63.
Landstar System (NASDAQ:LSTR – Get Rating) last released its quarterly earnings results 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 firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.02 billion. Landstar System had a return on equity of 51.73% and a net margin of 5.89%. The business's revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. Sell-side analysts expect that Landstar System, Inc. will post 11.7 EPS for the current year.
Landstar System Increases Dividend
The business 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 represents a $1.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, August 5th. This is a boost from Landstar System's previous quarterly dividend of $0.25. Landstar System's dividend payout ratio is 10.03%.
Analyst Upgrades and Downgrades
LSTR has been the subject of several analyst reports. Benchmark initiated coverage on Landstar System in a research note on Tuesday, September 6th. They set a "hold" rating for the company. StockNews.com downgraded Landstar System from a "buy" rating to a "hold" rating in a research note on Saturday, September 3rd. Evercore ISI cut their target price on 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. Susquehanna Bancshares cut their target price on Landstar System from $155.00 to $153.00 and set a "neutral" rating for the company in a research note on Friday, July 22nd. Finally, Wells Fargo & Company cut their target price on Landstar System from $165.00 to $147.00 and set an "equal weight" rating for the company in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, Landstar System presently has a consensus rating of "Hold" and a consensus price target of $162.08.
Landstar System 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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