B. Riley Wealth Advisors Inc. Trims Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 42.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,467 shares of the transportation company’s stock after selling 1,087 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Landstar System were worth $271,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. 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. Mather Group LLC. bought a new stake in Landstar System during the 1st quarter valued at about $27,000. Quest Partners LLC purchased a new stake in Landstar System in the 2nd quarter valued at about $73,000. Fidelis Capital Partners LLC bought a new position in Landstar System in the 1st quarter worth about $86,000. Finally, GAMMA Investing LLC grew its stake in Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Shares of LSTR opened at $186.02 on Wednesday. The company has a market capitalization of $6.65 billion, a P/E ratio of 28.62 and a beta of 0.80. The business’s 50-day moving average is $184.43 and its two-hundred day moving average is $182.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $201.40.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. Landstar System’s revenue for the quarter 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 predict that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.36 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Tuesday, August 20th. Landstar System’s dividend payout ratio is presently 22.15%.

Wall Street Analysts Forecast Growth

LSTR has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. TD Cowen upped their target price on Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley cut their price target on Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $179.00.

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.