First Trust Advisors LP Has $17.69 Million Stake in Landstar System, Inc. (LSTR)

First Trust Advisors LP reduced its position in Landstar System, Inc. (NASDAQ:LSTR) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,704 shares of the transportation company’s stock after selling 57,553 shares during the period. First Trust Advisors LP owned about 0.49% of Landstar System worth $17,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in shares of Landstar System by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,724 shares of the transportation company’s stock worth $1,261,000 after buying an additional 200 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Landstar System during the first quarter worth about $279,000. Russell Investments Group Ltd. increased its position in shares of Landstar System by 7.9% in the first quarter. Russell Investments Group Ltd. now owns 208,035 shares of the transportation company’s stock worth $17,818,000 after buying an additional 15,319 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Landstar System by 37.8% in the first quarter. Janney Montgomery Scott LLC now owns 20,274 shares of the transportation company’s stock worth $1,736,000 after buying an additional 5,562 shares during the last quarter. Finally, Cardinal Capital Management increased its position in shares of Landstar System by 1.0% in the first quarter. Cardinal Capital Management now owns 13,229 shares of the transportation company’s stock worth $1,133,000 after buying an additional 134 shares during the last quarter. 97.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at 81.55 on Monday. The company has a 50-day moving average of $85.38 and a 200-day moving average of $85.20. Landstar System, Inc. has a 1-year low of $65.05 and a 1-year high of $90.80. The firm has a market capitalization of $3.42 billion, a PE ratio of 23.56 and a beta of 0.75.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. Equities research analysts predict that Landstar System, Inc. will post $3.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. Landstar System’s dividend payout ratio (DPR) is 11.56%.

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A number of brokerages have recently issued reports on LSTR. BidaskClub downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Thursday, July 6th. Stifel Nicolaus lifted their price objective on shares of Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Cowen and Company lifted their price objective on shares of Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Finally, Morgan Stanley lifted their price objective on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $84.86.

About Landstar System

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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