Acadian Asset Management LLC Sells 2,668 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Acadian Asset Management LLC cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 75.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 872 shares of the transportation company’s stock after selling 2,668 shares during the quarter. Acadian Asset Management LLC’s holdings in Landstar System were worth $160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. raised its stake in Landstar System by 2.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after buying an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Landstar System by 13.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock worth $115,000 after acquiring an additional 72 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Landstar System by 108.8% in the 2nd 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. Wealth Enhancement Advisory Services LLC boosted its position in shares of Landstar System by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock valued at $549,000 after purchasing an additional 74 shares in the last quarter. Finally, Quent Capital LLC boosted its position in shares of Landstar System by 10.3% during the first quarter. Quent Capital LLC now owns 917 shares of the transportation company’s stock valued at $177,000 after purchasing an additional 86 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 2.5 %

NASDAQ:LSTR opened at $179.59 on Friday. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 27.63 and a beta of 0.80. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $185.19 and its 200-day moving average price is $182.74. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $1.85 EPS. The company’s revenue was down 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.80%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is presently 22.15%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LSTR shares. TD Cowen raised their price objective on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Raymond James dropped their price objective on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Finally, Evercore ISI lifted their target price on shares of Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $179.73.

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.