Ensign Peak Advisors Inc Sells 5,505 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Ensign Peak Advisors Inc reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 33.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,871 shares of the transportation company’s stock after selling 5,505 shares during the period. Ensign Peak Advisors Inc’s holdings in Landstar System were worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LSTR. Vanguard Group Inc. increased its holdings in Landstar System by 0.7% in the 1st 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 during the last quarter. Quantbot Technologies LP increased its holdings in shares of Landstar System by 415.1% in the first quarter. Quantbot Technologies LP now owns 5,223 shares of the transportation company’s stock worth $1,007,000 after purchasing an additional 4,209 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Landstar System by 36.5% in the first quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock worth $3,118,000 after buying an additional 4,327 shares in the last quarter. Sei Investments Co. boosted its stake in Landstar System by 17.9% during the first quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock valued at $13,926,000 after buying an additional 10,978 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Landstar System by 125.4% during the 1st quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock valued at $2,467,000 after buying an additional 7,118 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LSTR shares. Evercore ISI upped their price objective on Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their target price 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. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wolfe Research cut Landstar System from an “outperform” rating to a “peer perform” rating in a research note 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’s stock. According to MarketBeat, Landstar System presently has an average rating of “Hold” and an average price target of $179.73.

Landstar System Stock Up 1.3 %

Shares of NASDAQ:LSTR opened at $186.93 on Friday. 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 has a 50 day simple moving average of $185.05 and a two-hundred day simple moving average of $182.69. 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 $6.68 billion, a PE ratio of 28.76 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data 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 company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned $1.85 EPS. Landstar System’s revenue was down 10.8% compared to the same quarter last year. On average, equities analysts predict that Landstar System, Inc. will post 5.87 EPS for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date was Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is currently 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.