Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 8.6% during the first quarter, Holdings Channel reports. The institutional investor owned 1,921 shares of the transportation company’s stock after selling 181 shares during the quarter. Ritholtz Wealth Management’s holdings in Landstar System were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LSTR. HM Payson & Co. purchased a new position in Landstar System during the fourth quarter valued at approximately $26,000. Colonial Trust Co SC grew its stake in shares of Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock worth $32,000 after purchasing an additional 71 shares during the period. Transce3nd LLC acquired a new stake in shares of Landstar System during the 4th quarter worth approximately $60,000. BOKF NA increased its holdings in shares of Landstar System by 56.1% during the 4th quarter. BOKF NA now owns 348 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 125 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Landstar System by 151.0% in the 1st quarter. Versant Capital Management Inc now owns 517 shares of the transportation company’s stock valued at $78,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 0.2%

Shares of NASDAQ LSTR opened at $136.81 on Friday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 27.09 and a beta of 0.88. The company’s 50-day simple moving average is $138.25 and its 200-day simple moving average is $154.39. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 52-week low of $128.99 and a 52-week high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $1.32 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s dividend payout ratio (DPR) is 31.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LSTR. Evercore ISI lowered their price target on shares of Landstar System from $137.00 to $136.00 and set an “in-line” rating on the stock in a report on Wednesday, May 14th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Monday, April 14th. UBS Group set a $154.00 target price on shares of Landstar System in a research note on Wednesday, May 14th. Truist Financial dropped their target price on Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $150.00.

About Landstar System

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.