Landstar System, Inc. $LSTR Holdings Lowered by Reinhart Partners LLC.

Reinhart Partners LLC. lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 25.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,055 shares of the transportation company’s stock after selling 145,035 shares during the quarter. Landstar System makes up about 1.7% of Reinhart Partners LLC.’s investment portfolio, making the stock its 28th largest holding. Reinhart Partners LLC.’s holdings in Landstar System were worth $71,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LSTR. Castleview Partners LLC boosted its stake in Landstar System by 9.6% during the 3rd quarter. Castleview Partners LLC now owns 1,327 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 116 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Landstar System by 18.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,094 shares of the transportation company’s stock worth $522,000 after purchasing an additional 490 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Landstar System by 68.1% in the 3rd quarter. GAMMA Investing LLC now owns 4,634 shares of the transportation company’s stock valued at $782,000 after purchasing an additional 1,877 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Landstar System by 14.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,105 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 136 shares in the last quarter. Finally, Fenimore Asset Management Inc lifted its position in shares of Landstar System by 0.4% during the third quarter. Fenimore Asset Management Inc now owns 508,778 shares of the transportation company’s stock worth $85,803,000 after purchasing an additional 2,193 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

LSTR opened at $169.11 on Friday. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 43.81 and a beta of 0.90. Landstar System, Inc. has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The company’s 50-day moving average price is $175.89 and its 200 day moving average price is $186.02. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business earned $1.20 EPS. The business’s revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts expect that Landstar System, Inc. will post 5.88 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th were issued a $0.44 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. Landstar System’s dividend payout ratio (DPR) is 45.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LSTR. Janney Montgomery Scott set a $182.00 price objective on Landstar System in a report on Wednesday, July 29th. Stephens upgraded Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. Morgan Stanley reiterated an “underweight” rating and issued a $145.00 price target on shares of Landstar System in a report on Monday, July 6th. Wells Fargo & Company dropped their price target on Landstar System from $240.00 to $225.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus raised their price objective on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus price target of $191.14.

Landstar System Company Profile

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar’s services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.