Hancock Whitney Corp Sells 167 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Hancock Whitney Corp lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 6.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,541 shares of the transportation company’s stock after selling 167 shares during the period. Hancock Whitney Corp’s holdings in Landstar System were worth $469,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after buying an additional 25,387 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Landstar System by 415.1% during the 1st quarter. Quantbot Technologies LP now owns 5,223 shares of the transportation company’s stock worth $1,007,000 after purchasing an additional 4,209 shares during the last quarter. Van ECK Associates Corp boosted its position in Landstar System by 36.5% during the first quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock valued at $3,118,000 after purchasing an additional 4,327 shares in the last quarter. Sei Investments Co. grew its stake in Landstar System by 17.9% in the first quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock valued at $13,926,000 after purchasing an additional 10,978 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in Landstar System by 125.4% in the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock valued at $2,467,000 after purchasing an additional 7,118 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LSTR shares. Morgan Stanley lowered their price target on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. TD Cowen lifted their price target on shares of Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus decreased their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Evercore ISI increased their price target on Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average price target of $179.73.

Landstar System Stock Up 1.5 %

LSTR stock opened at $182.29 on Tuesday. The company has a market capitalization of $6.52 billion, a P/E ratio of 28.04 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 firm’s fifty day simple moving average is $185.15 and its 200-day simple moving average is $182.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The company had revenue of $1.23 billion for 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%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. As a group, equities research analysts forecast that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date was Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. Landstar System’s payout ratio is presently 22.15%.

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.