Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,804 shares of the transportation company’s stock after selling 685 shares during the period. Bank of Montreal Can’s holdings in Landstar System were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in LSTR. Vanguard Group Inc. lifted its stake in shares of Landstar System by 0.7% during the first 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 during the period. Victory Capital Management Inc. lifted its position in Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after buying an additional 99,461 shares during the period. Boston Partners boosted its position in shares of Landstar System by 1.0% in the first quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after acquiring an additional 15,424 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Landstar System by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock valued at $109,743,000 after purchasing an additional 37,020 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Landstar System by 2.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock worth $82,755,000 after purchasing an additional 10,538 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LSTR. Wolfe Research cut shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Evercore ISI dropped their price objective on shares of Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a research report on Thursday. TD Cowen upped their price target on shares of Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $179.00.

Landstar System Stock Down 2.3 %

Shares of NASDAQ:LSTR opened at $177.15 on Friday. Landstar System, Inc. has a 12-month low of $161.13 and a 12-month high of $201.40. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.34 billion, a PE ratio of 27.25 and a beta of 0.80. The company has a fifty day simple moving average of $184.75 and a 200 day simple moving average of $182.66.

Landstar System (NASDAQ:LSTR) last issued 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. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 earnings per share. On average, equities research analysts anticipate that Landstar System, Inc. will post 5.87 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 20th. Landstar System’s payout ratio is 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.