ProShare Advisors LLC Trims Position in Landstar System, Inc. (NASDAQ:LSTR)

ProShare Advisors LLC lessened its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.1% in the second quarter, Holdings Channel reports. The institutional investor owned 1,876 shares of the transportation company’s stock after selling 121 shares during the quarter. ProShare Advisors LLC’s holdings in Landstar System were worth $346,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Landstar System by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after buying an additional 25,387 shares in the last quarter. Quantbot Technologies LP grew its holdings in Landstar System by 415.1% during the 1st quarter. Quantbot Technologies LP now owns 5,223 shares of the transportation company’s stock valued at $1,007,000 after buying an additional 4,209 shares in the last quarter. Van ECK Associates Corp grew its holdings in Landstar System by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock valued at $3,118,000 after buying an additional 4,327 shares in the last quarter. Sei Investments Co. grew its holdings in Landstar System by 17.9% during the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock valued at $13,926,000 after buying an additional 10,978 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Landstar System by 125.4% during the 1st quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock valued at $2,467,000 after acquiring an additional 7,118 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

NASDAQ:LSTR opened at $184.64 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The business has a 50 day moving average of $185.20 and a 200 day moving average of $182.67. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 28.41 and a beta of 0.80. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $201.40.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. On average, sell-side analysts predict that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a $0.36 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s payout ratio is 22.15%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen lifted their price target on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price target on Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Morgan Stanley dropped their price target on 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. Finally, Stifel Nicolaus dropped their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. 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, the company presently has an average rating of “Hold” and an average price target of $179.73.

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.