Brown Brothers Harriman & Co. increased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,925 shares of the transportation company’s stock after purchasing an additional 125 shares during the period. Brown Brothers Harriman & Co.’s holdings in Landstar System were worth $778,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of LSTR. Teacher Retirement System of Texas boosted its stake in Landstar System by 22.0% during the 1st quarter. Teacher Retirement System of Texas now owns 4,342 shares of the transportation company’s stock worth $717,000 after purchasing an additional 784 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Landstar System in the 1st quarter worth $967,000. UBS Group AG lifted its stake in shares of Landstar System by 31.5% in the 1st quarter. UBS Group AG now owns 48,571 shares of the transportation company’s stock worth $8,017,000 after acquiring an additional 11,630 shares during the period. Brinker Capital Investments LLC acquired a new stake in shares of Landstar System in the 1st quarter worth $1,540,000. Finally, Sei Investments Co. lifted its stake in shares of Landstar System by 59.9% in the 1st quarter. Sei Investments Co. now owns 82,813 shares of the transportation company’s stock worth $12,981,000 after acquiring an additional 31,019 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.
LSTR has been the subject of several recent analyst reports. Evercore ISI began coverage on shares of Landstar System in a research note on Monday, September 13th. They issued an “inline” rating and a $171.00 target price for the company. They noted that the move was a valuation call. Truist Securities reduced their price objective on shares of Landstar System from $175.00 to $165.00 and set a “hold” rating for the company in a research note on Tuesday, June 29th. Truist reduced their price objective on shares of Landstar System from $165.00 to $155.00 and set a “hold” rating for the company in a research note on Friday, July 23rd. Wells Fargo & Company reduced their price objective on shares of Landstar System from $161.00 to $158.00 and set an “equal weight” rating for the company in a research note on Friday, July 23rd. Finally, Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Monday, July 26th. Two equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $155.23.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 20th. The transportation company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.52 billion. Landstar System had a net margin of 5.66% and a return on equity of 41.25%. The business’s revenue was up 90.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts predict that Landstar System, Inc. will post 9.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Monday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 6th. This is a positive change from Landstar System’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. Landstar System’s dividend payout ratio is currently 18.90%.
Landstar System Profile
Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.
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