DAVENPORT & Co LLC Cuts Stock Holdings in Landstar System, Inc. $LSTR

DAVENPORT & Co LLC reduced its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,951 shares of the transportation company’s stock after selling 105 shares during the period. DAVENPORT & Co LLC’s holdings in Landstar System were worth $1,244,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LSTR. Alpine Bank Wealth Management purchased a new stake in Landstar System during the 1st quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Landstar System by 118.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after buying an additional 152 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after buying an additional 154 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in Landstar System by 352.2% during the 1st quarter. Brooklyn Investment Group now owns 312 shares of the transportation company’s stock worth $47,000 after buying an additional 243 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the subject of a number of analyst reports. Stifel Nicolaus dropped their price target on Landstar System from $131.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, October 3rd. Baird R W upgraded Landstar System to a “strong-buy” rating in a research report on Tuesday, July 1st. Susquehanna set a $123.00 price target on Landstar System and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Evercore ISI dropped their price target on Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a research report on Tuesday, September 30th. Finally, Robert W. Baird initiated coverage on Landstar System in a research report on Tuesday, July 1st. They issued an “outperform” rating and a $166.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $142.36.

Landstar System Trading Down 3.9%

LSTR opened at $124.13 on Friday. Landstar System, Inc. has a one year low of $119.32 and a one year high of $196.86. The stock has a market capitalization of $4.30 billion, a PE ratio of 26.02 and a beta of 0.82. The business’s 50 day moving average price is $128.33 and its 200 day moving average price is $135.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were issued a $0.40 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Landstar System’s dividend payout ratio is currently 33.54%.

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.