EverSource Wealth Advisors LLC Sells 113 Shares of Landstar System, Inc. (NASDAQ:LSTR)

EverSource Wealth Advisors LLC cut its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 19.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482 shares of the transportation company’s stock after selling 113 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Landstar System were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LSTR. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Landstar System by 2.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock valued at $387,000 after purchasing an additional 57 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Landstar System by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock worth $549,000 after buying an additional 74 shares during the last quarter. Studio Investment Management LLC increased its holdings in shares of Landstar System by 4.1% during the second quarter. Studio Investment Management LLC now owns 2,155 shares of the transportation company’s stock worth $398,000 after buying an additional 84 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Landstar System by 10.3% in the 1st quarter. Quent Capital LLC now owns 917 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LSTR. Susquehanna boosted their price objective on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Raymond James dropped their price objective on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Morgan Stanley decreased their price target on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Finally, Evercore ISI lifted their price target on shares of Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $179.73.

Landstar System Trading Up 1.3 %

NASDAQ:LSTR opened at $186.93 on Friday. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $201.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17. The firm’s fifty day moving average is $185.05 and its 200-day moving average is $182.69. The firm has a market cap of $6.68 billion, a P/E ratio of 28.76 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating 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 firm posted $1.85 earnings per share. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. Equities analysts expect that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a $0.36 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Tuesday, August 20th. Landstar System’s payout ratio is presently 22.15%.

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.