Edgestream Partners L.P. Cuts Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Edgestream Partners L.P. lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 64.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,732 shares of the transportation company’s stock after selling 19,693 shares during the quarter. Edgestream Partners L.P.’s holdings in Landstar System were worth $1,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its holdings 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 valued at $26,000 after buying an additional 74 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Landstar System in the first quarter valued at approximately $27,000. Quest Partners LLC purchased a new position in shares of Landstar System during the 2nd quarter worth approximately $73,000. Fidelis Capital Partners LLC acquired a new position in shares of Landstar System during the 1st quarter worth approximately $86,000. Finally, GAMMA Investing LLC lifted its stake in Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LSTR shares. Susquehanna upped their price objective on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target 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. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Evercore ISI upped their price objective on shares of Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Finally, Morgan Stanley lowered their target price 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. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $179.73.

Landstar System Stock Up 0.8 %

Shares of LSTR opened at $184.24 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $201.40. The firm has a market cap of $6.59 billion, a PE ratio of 28.34 and a beta of 0.80. The company’s fifty day moving average is $185.21 and its two-hundred day moving average is $182.78.

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 net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $1.85 earnings per share. The business’s quarterly revenue was down 10.8% on a year-over-year basis. Analysts forecast that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a yield of 0.78%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio 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.