Lecap Asset Management Ltd. Lowers Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Lecap Asset Management Ltd. reduced its position in Landstar System, Inc. (NASDAQ:LSTR) by 21.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,449 shares of the transportation company’s stock after selling 1,473 shares during the period. Lecap Asset Management Ltd.’s holdings in Landstar System were worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Massmutual Trust Co. FSB ADV grew 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 worth $26,000 after acquiring an additional 74 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Landstar System in the first quarter worth approximately $27,000. Quest Partners LLC purchased a new stake in shares of Landstar System during the second quarter valued at $73,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 358 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Landstar System in the first quarter valued at approximately $86,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $180.03 on Thursday. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40. The stock has a market cap of $6.44 billion, a PE ratio of 27.70 and a beta of 0.80. The business’s fifty day moving average price is $184.17 and its two-hundred day moving average price is $182.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17.

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, 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 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 business earned $1.85 earnings per share. Landstar System’s revenue was down 10.8% compared to the same quarter last year. On average, analysts forecast that Landstar System, Inc. will post 5.85 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.80%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s payout ratio is presently 22.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley reduced their price objective 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. Raymond James dropped their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. TD Cowen lifted their target price on Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Evercore ISI decreased their target price on shares of Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $177.25.

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.