UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,369 Shares of Landstar System, Inc. $LSTR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Landstar System, Inc. (NASDAQ:LSTRFree Report) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,186 shares of the transportation company’s stock after selling 4,369 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.31% of Landstar System worth $21,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LSTR. Los Angeles Capital Management LLC bought a new position in shares of Landstar System during the 4th quarter worth $25,000. Quarry LP purchased a new stake in Landstar System during the third quarter valued at about $25,000. Global Retirement Partners LLC lifted its holdings in Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Landstar System during the second quarter valued at about $35,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Landstar System Trading Up 2.1%

Landstar System stock opened at $177.92 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The stock has a market cap of $6.04 billion, a P/E ratio of 46.09 and a beta of 0.90. The firm’s fifty day moving average price is $192.06 and its 200-day moving average price is $182.72.

Landstar System (NASDAQ:LSTRGet Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $1.20 EPS. Landstar System’s quarterly revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. Landstar System’s payout ratio is presently 45.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Morgan Stanley restated an “underweight” rating and set a $145.00 target price on shares of Landstar System in a research report on Monday, July 6th. The Goldman Sachs Group raised their price target on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Finally, TD Cowen decreased their price objective on Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $196.00.

Get Our Latest Stock Report on LSTR

Insider Buying and Selling at Landstar System

In related news, CFO James Todd sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.

Landstar System Company Profile

(Free Report)

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

See Also

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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