Royal London Asset Management Ltd. Sells 17,623 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Royal London Asset Management Ltd. lessened its position in Landstar System, Inc. (NASDAQ:LSTR) by 17.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,645 shares of the transportation company’s stock after selling 17,623 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Landstar System were worth $15,246,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LSTR. Vanguard Group Inc. grew its position 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 worth $670,812,000 after purchasing an additional 25,387 shares during the last quarter. Quantbot Technologies LP grew its position in Landstar System by 415.1% in the 1st 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 grew its position in Landstar System by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock worth $3,118,000 after purchasing an additional 4,327 shares during the last quarter. Sei Investments Co. grew its position in Landstar System by 17.9% in the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock worth $13,926,000 after purchasing an additional 10,978 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Landstar System in the 4th quarter worth $2,261,000. Institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Raymond James decreased their target price on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI lifted their target price on shares of Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus price target of $179.73.

Landstar System Price Performance

NASDAQ:LSTR opened at $182.17 on Friday. The firm has a market cap of $6.51 billion, a PE ratio of 28.03 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. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $184.62 and its two-hundred day moving average price is $183.06.

Landstar System (NASDAQ:LSTR) last released 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. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities analysts anticipate that Landstar System, Inc. will post 5.87 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. Shareholders of record on Tuesday, August 20th were paid a $0.36 dividend. The ex-dividend date was Tuesday, August 20th. 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 dividend yield of 0.79%. Landstar System’s payout ratio is currently 22.15%.

Landstar System Company 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.