Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,721 shares of the transportation company’s stock after selling 205 shares during the quarter. Parallel Advisors LLC’s holdings in Landstar System were worth $502,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after acquiring an additional 25,387 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after acquiring an additional 99,461 shares in the last quarter. Boston Partners increased its holdings in Landstar System by 1.0% in the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after buying an additional 15,424 shares during the period. Dimensional Fund Advisors LP increased its holdings in Landstar System by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 555,085 shares of the transportation company’s stock worth $107,496,000 after buying an additional 21,395 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Landstar System by 1.8% in the 4th quarter. Wells Fargo & Company MN now owns 437,754 shares of the transportation company’s stock worth $84,771,000 after buying an additional 7,669 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LSTR. Raymond James cut their price target on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Susquehanna increased their price target on shares of Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $179.73.

Landstar System Trading Up 0.2 %

Shares of NASDAQ:LSTR opened at $184.12 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 capitalization of $6.58 billion, a price-to-earnings ratio of 28.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The business’s 50 day moving average price is $184.95 and its 200-day moving average price is $182.77.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $1.85 EPS. The business’s revenue was down 10.8% on a year-over-year basis. On average, equities research analysts forecast that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.36 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. Landstar System’s dividend payout ratio (DPR) is 22.15%.

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.