Ameritas Investment Partners Inc. Sells 330 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Ameritas Investment Partners Inc. lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,907 shares of the transportation company’s stock after selling 330 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Landstar System were worth $2,750,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Landstar System during the 4th quarter worth about $64,175,000. Victory Capital Management Inc. boosted its position in Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after purchasing an additional 99,461 shares during the period. UBS Group AG grew its holdings in Landstar System by 359.9% during the fourth quarter. UBS Group AG now owns 80,077 shares of the transportation company’s stock valued at $15,507,000 after purchasing an additional 62,667 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Landstar System by 21.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 337,271 shares of the transportation company’s stock valued at $65,013,000 after purchasing an additional 59,530 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Landstar System by 30.9% in the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after buying an additional 42,740 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

LSTR opened at $179.59 on Friday. The stock’s 50 day simple moving average is $185.19 and its 200-day simple moving average is $182.72. 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 market cap of $6.42 billion, a PE ratio of 27.63 and a beta of 0.80. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year 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 the consensus estimate of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. Sell-side 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.80%. The ex-dividend date was Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio is 22.15%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LSTR. Stifel Nicolaus lowered their target price on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. TD Cowen raised their price target on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Raymond James dropped their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average 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.