Envestnet Asset Management Inc. Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

Envestnet Asset Management Inc. lifted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,186 shares of the transportation company’s stock after purchasing an additional 14,823 shares during the period. Envestnet Asset Management Inc. owned 0.49% of Landstar System worth $32,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. boosted its holdings in Landstar System by 0.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 64,607 shares of the transportation company’s stock worth $11,919,000 after buying an additional 309 shares during the period. Meeder Asset Management Inc. bought a new position in Landstar System in the 2nd quarter worth $134,000. Vest Financial LLC boosted its holdings in Landstar System by 30.8% in the 2nd quarter. Vest Financial LLC now owns 6,048 shares of the transportation company’s stock worth $1,116,000 after buying an additional 1,423 shares during the period. American Century Companies Inc. boosted its holdings in Landstar System by 11.3% in the 2nd quarter. American Century Companies Inc. now owns 60,467 shares of the transportation company’s stock worth $11,155,000 after buying an additional 6,134 shares during the period. Finally, Studio Investment Management LLC boosted its holdings in Landstar System by 4.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,155 shares of the transportation company’s stock worth $398,000 after buying an additional 84 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LSTR shares. JPMorgan Chase & Co. upped 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. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. 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. Morgan Stanley cut their price objective on Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Finally, Susquehanna raised their price objective on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus price target of $179.73.

Landstar System Trading Down 2.5 %

LSTR opened at $179.59 on Friday. The firm has a market cap of $6.42 billion, a P/E ratio of 27.63 and a beta of 0.80. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $201.40. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $185.19 and a 200 day moving average of $182.74.

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

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is currently 22.15%.

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.