Natixis Advisors LLC Sells 66,182 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Natixis Advisors LLC lowered its stake in Landstar System, Inc. (NASDAQ:LSTR) by 33.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 131,144 shares of the transportation company’s stock after selling 66,182 shares during the quarter. Natixis Advisors LLC owned 0.37% of Landstar System worth $24,193,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LSTR. Aptus Capital Advisors LLC raised its holdings in Landstar System by 24.4% during the 2nd quarter. Aptus Capital Advisors LLC now owns 21,068 shares of the transportation company’s stock valued at $3,887,000 after buying an additional 4,126 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in Landstar System by 12.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 5,126 shares of the transportation company’s stock worth $946,000 after acquiring an additional 551 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Landstar System by 11.1% in the second quarter. Van ECK Associates Corp now owns 17,968 shares of the transportation company’s stock valued at $3,315,000 after acquiring an additional 1,791 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Landstar System by 5.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,990 shares of the transportation company’s stock valued at $1,474,000 after acquiring an additional 438 shares during the last quarter. Finally, &PARTNERS purchased a new stake in shares of Landstar System during the second quarter worth about $303,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 0.1 %

Shares of Landstar System stock opened at $182.46 on Wednesday. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 28.07 and a beta of 0.80. The company has a 50-day moving average of $184.91 and a 200 day moving average of $183.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.36 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. Landstar System’s payout ratio is presently 22.15%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LSTR. Stifel Nicolaus reduced their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Raymond James dropped their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Susquehanna boosted their price objective on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Benchmark restated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $179.73.

About Landstar System

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.