Renaissance Technologies LLC Decreases Position in Landstar System, Inc. (NASDAQ:LSTR)

Renaissance Technologies LLC cut its position in Landstar System, Inc. (NASDAQ:LSTR) by 83.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,300 shares of the transportation company’s stock after selling 32,640 shares during the period. Renaissance Technologies LLC’s holdings in Landstar System were worth $1,162,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LSTR. Victory Capital Management Inc. raised its holdings in Landstar System by 6.2% in the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after buying an additional 99,461 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Landstar System by 21.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 337,271 shares of the transportation company’s stock worth $65,013,000 after buying an additional 59,530 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Landstar System by 30.9% in the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after buying an additional 42,740 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Landstar System by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after buying an additional 37,020 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Landstar System in the first quarter worth about $5,366,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $177.15 on Friday. The firm has a 50 day moving average of $184.75 and a 200 day moving average of $182.68. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 27.25 and a beta of 0.80. Landstar System, Inc. has a 12-month low of $161.13 and a 12-month high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, research analysts anticipate that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.44 annualized dividend and a yield of 0.81%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is currently 22.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Morgan Stanley reduced 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 note on Monday, July 8th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Susquehanna lifted their price target on shares of Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Raymond James reduced their price target on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $179.00.

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.