Parallel Advisors LLC Sells 205 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Parallel Advisors LLC decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,721 shares of the transportation company’s stock after selling 205 shares during the period. Parallel Advisors LLC’s holdings in Landstar System were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Mather Group LLC. bought a new position in Landstar System during the first quarter valued at $27,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Quest Partners LLC purchased a new stake in shares of Landstar System during the second quarter valued at $73,000. Fidelis Capital Partners LLC purchased a new stake in shares of Landstar System during the first quarter valued at $86,000. Finally, GAMMA Investing LLC boosted its stake in shares of Landstar System by 58.1% during the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 183 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

Shares of Landstar System stock opened at $184.12 on Wednesday. The company has a market capitalization of $6.58 billion, a PE ratio of 28.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17. The company has a 50-day simple moving average of $184.95 and a two-hundred day simple moving average of $182.77. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. Research analysts expect that Landstar System, Inc. will post 5.87 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date was Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 0.78%. Landstar System’s payout ratio is currently 22.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LSTR shares. Susquehanna boosted their target price on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their price objective on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $179.73.

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.