Pacer Advisors Inc. Sells 2,861 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Pacer Advisors Inc. cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 54.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,423 shares of the transportation company’s stock after selling 2,861 shares during the quarter. Pacer Advisors Inc.’s holdings in Landstar System were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LSTR. Ameriprise Financial Inc. raised its holdings in Landstar System by 120.7% during the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock worth $28,408,000 after buying an additional 90,391 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Landstar System by 0.3% during the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock worth $12,203,000 after buying an additional 213 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after buying an additional 154 shares during the last quarter. Brown Advisory Inc. raised its holdings in Landstar System by 31.7% during the first quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock worth $1,225,000 after buying an additional 1,961 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Landstar System by 1.2% during the first quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock worth $29,707,000 after buying an additional 2,318 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Price Performance

LSTR opened at $128.37 on Friday. The firm has a market cap of $4.45 billion, a P/E ratio of 26.91 and a beta of 0.86. The firm has a 50-day moving average of $139.28 and a 200 day moving average of $146.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.03 and a current ratio of 2.00. Landstar System, Inc. has a fifty-two week low of $128.10 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. On average, research analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System’s dividend payout ratio is presently 31.68%.

Analyst Ratings Changes

LSTR has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Landstar System from $139.00 to $138.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Evercore ISI lowered their price objective on shares of Landstar System from $135.00 to $132.00 and set an “in-line” rating on the stock in a report on Wednesday. Benchmark restated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. TD Cowen lowered their target price on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus lowered their target price on shares of Landstar System from $140.00 to $131.00 and set a “hold” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $145.17.

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.