Ritholtz Wealth Management Has $204,000 Stake in Landstar System, Inc. $LSTR

Ritholtz Wealth Management trimmed its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,467 shares of the transportation company’s stock after selling 454 shares during the period. Ritholtz Wealth Management’s holdings in Landstar System were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock valued at $613,372,000 after buying an additional 319,101 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Landstar System by 2.1% in the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company’s stock valued at $248,567,000 after buying an additional 33,399 shares in the last quarter. Northern Trust Corp raised its position in shares of Landstar System by 9.1% in the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock valued at $110,285,000 after buying an additional 61,477 shares in the last quarter. Invesco Ltd. raised its position in shares of Landstar System by 1.9% in the first quarter. Invesco Ltd. now owns 462,357 shares of the transportation company’s stock valued at $69,446,000 after buying an additional 8,623 shares in the last quarter. Finally, Reinhart Partners LLC. raised its position in shares of Landstar System by 49.2% in the second quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company’s stock valued at $59,229,000 after buying an additional 140,500 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Up 2.5%

Shares of NASDAQ:LSTR opened at $136.78 on Wednesday. The company has a fifty day moving average of $128.47 and a 200-day moving average of $134.63. The company has a market capitalization of $4.74 billion, a PE ratio of 28.68 and a beta of 0.82. 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, Inc. has a 52-week low of $119.32 and a 52-week high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Landstar System’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal 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 paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System’s payout ratio is currently 33.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Landstar System from $147.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Baird R W raised Landstar System to a “strong-buy” rating in a report on Tuesday, July 1st. Barclays lowered their price target on Landstar System from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Susquehanna set a $123.00 price target on Landstar System and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Finally, UBS Group lowered their price target on shares of Landstar System from $154.00 to $149.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $142.36.

Landstar System Company 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.