Atria Investments Inc Acquires 815 Shares of Landstar System, Inc. $LSTR

Atria Investments Inc lifted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,621 shares of the transportation company’s stock after purchasing an additional 815 shares during the quarter. Atria Investments Inc’s holdings in Landstar System were worth $1,755,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Landstar System by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock worth $12,203,000 after acquiring an additional 213 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Landstar System by 31.7% during the 1st quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock worth $1,225,000 after acquiring an additional 1,961 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Landstar System by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock worth $29,707,000 after acquiring an additional 2,318 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Landstar System by 41.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 45,346 shares of the transportation company’s stock worth $6,304,000 after acquiring an additional 13,229 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Landstar System during the 2nd quarter worth approximately $357,000. 97.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LSTR shares. JPMorgan Chase & Co. reduced their price target on shares of Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Evercore ISI cut their target price on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus cut their target price on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Finally, UBS Group cut their target price on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $134.60.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $127.95 on Wednesday. The firm has a market cap of $4.39 billion, a PE ratio of 32.64 and a beta of 0.82. The firm’s fifty day moving average is $127.87 and its 200-day moving average is $133.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.00 and a current ratio of 2.01. 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 results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.Landstar System’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. Sell-side analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 18th. Landstar System’s payout ratio is 40.82%.

Landstar System 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.