Canada Pension Plan Investment Board reduced its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 138,000 shares of the transportation company’s stock after selling 10,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Landstar System were worth $11,813,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LSTR. Janney Montgomery Scott LLC raised its position in 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 period. Cardinal Capital Management raised its position in 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 period. First Quadrant L P CA raised its position in Landstar System by 2.0% in the first quarter. First Quadrant L P CA now owns 399,924 shares of the transportation company’s stock worth $34,253,000 after buying an additional 8,027 shares during the period. Glen Harbor Capital Management LLC raised its position in Landstar System by 11.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,200 shares of the transportation company’s stock worth $103,000 after buying an additional 128 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new position in Landstar System during the first quarter worth $281,000. Hedge funds and other institutional investors own 97.10% of the company’s stock.

Shares of Landstar System, Inc. (NASDAQ LSTR) opened at 81.45 on Friday. The firm has a market cap of $3.42 billion, a P/E ratio of 23.53 and a beta of 0.75. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $90.80. The firm has a 50-day moving average price of $85.50 and a 200-day moving average price of $85.22.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The company had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Landstar System, Inc. will post $3.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a $0.10 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. Landstar System’s dividend payout ratio is presently 11.56%.

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A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded 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 company 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 company 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 company an “underweight” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $84.86.

Landstar System Company Profile

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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