Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,275 shares of the transportation company’s stock after selling 2,430 shares during the quarter. Amalgamated Bank owned 0.06% of Landstar System worth $4,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Landstar System by 2.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after purchasing an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Landstar System by 13.8% during the first quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock valued at $115,000 after acquiring an additional 72 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings 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 acquiring an additional 74 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings 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 acquiring an additional 74 shares during the period. Finally, Studio Investment Management LLC raised its holdings in shares of Landstar System by 4.1% during the second quarter. Studio Investment Management LLC now owns 2,155 shares of the transportation company’s stock valued at $398,000 after acquiring an additional 84 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

Shares of LSTR opened at $179.59 on Monday. The company’s fifty day moving average is $185.19 and its 200-day moving average is $182.72. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $201.40. The firm 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.

Landstar System (NASDAQ:LSTR) last announced 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. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business posted $1.85 EPS. Landstar System’s quarterly revenue was down 10.8% on a year-over-year basis. Equities analysts expect that Landstar System, Inc. will post 5.87 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.80%. Landstar System’s dividend payout ratio is 22.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Stifel Nicolaus cut their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Susquehanna boosted their price target on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Evercore ISI boosted their price target 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.