LRI Investments LLC Sells 146 Shares of Landstar System, Inc. $LSTR

LRI Investments LLC decreased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 33.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294 shares of the transportation company’s stock after selling 146 shares during the period. LRI Investments LLC’s holdings in Landstar System were worth $41,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of LSTR. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Landstar System by 8.5% during the 1st 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 purchasing an additional 319,101 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Landstar System in the 1st quarter worth about $34,540,000. Reinhart Partners LLC. grew its position in shares of Landstar System by 49.2% in the 2nd quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company’s stock worth $59,229,000 after buying an additional 140,500 shares during the period. Northern Trust Corp grew its position in shares of Landstar System by 9.1% in the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock worth $110,285,000 after buying an additional 61,477 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after buying an additional 50,142 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 0.7%

LSTR opened at $124.99 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $128.27 and a 200-day moving average price of $135.17. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $196.86. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 26.20 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating 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 firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on LSTR. Barclays reduced their target price on shares of Landstar System from $145.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Baird R W raised shares of Landstar System to a “strong-buy” rating in a research report on Tuesday, July 1st. Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Finally, UBS Group reduced their target price on shares of Landstar System from $154.00 to $149.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus 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.