Blue Trust Inc. Increases Stake in Landstar System, Inc. (NASDAQ:LSTR)

Blue Trust Inc. increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 89.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,079 shares of the transportation company’s stock after acquiring an additional 509 shares during the period. Blue Trust Inc.’s holdings in Landstar System were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its stake in shares of Landstar System by 1.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 17,706 shares of the transportation company’s stock valued at $3,266,000 after purchasing an additional 177 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Landstar System by 30.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,629 shares of the transportation company’s stock valued at $485,000 after purchasing an additional 621 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Landstar System by 2.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock worth $549,000 after purchasing an additional 74 shares during the period. Curated Wealth Partners LLC boosted its position in Landstar System by 180.6% during the second quarter. Curated Wealth Partners LLC now owns 2,431 shares of the transportation company’s stock worth $448,000 after purchasing an additional 5,446 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Landstar System during the second quarter worth approximately $297,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stifel Nicolaus reduced their target price on 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 objective 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. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Wolfe Research lowered shares of 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $179.73.

Landstar System Stock Performance

Shares of Landstar System stock opened at $188.11 on Monday. The business’s 50 day moving average price is $184.34 and its 200 day moving average price is $184.21. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 28.94 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.17. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm earned $1.85 EPS. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. 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%.

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.