Federated Hermes Inc. Sells 297 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Federated Hermes Inc. reduced its position in Landstar System, Inc. (NASDAQ:LSTR) by 5.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,352 shares of the transportation company’s stock after selling 297 shares during the period. Federated Hermes Inc.’s holdings in Landstar System were worth $987,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LSTR. Massmutual Trust Co. FSB ADV raised its position in shares of Landstar System by 108.8% in 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. Mather Group LLC. purchased a new stake in shares of Landstar System during the first quarter worth $27,000. Quest Partners LLC purchased a new stake in shares of Landstar System during the second quarter worth $73,000. Fidelis Capital Partners LLC bought a new position in shares of Landstar System in the first quarter worth $86,000. Finally, GAMMA Investing LLC grew its position in shares of Landstar System by 58.1% in 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 in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LSTR. TD Cowen lifted their price objective on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on 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 decreased their price target 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. Finally, Morgan Stanley lowered their target price on Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Twelve analysts have rated the stock with a hold rating and one has assigned 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 Stock Down 2.5 %

NASDAQ LSTR opened at $179.59 on Friday. The stock’s 50-day moving average price is $185.19 and its 200-day moving average price is $182.72. The company has a market capitalization of $6.42 billion, a P/E 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. 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 quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $1.23 billion for 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 company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, equities research analysts predict that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

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

About Landstar System

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.