Copeland Capital Management LLC Sells 12,860 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Copeland Capital Management LLC reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,090 shares of the transportation company’s stock after selling 12,860 shares during the quarter. Copeland Capital Management LLC owned about 1.08% of Landstar System worth $56,489,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LSTR. HM Payson & Co. bought a new position in Landstar System in the fourth quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in Landstar System in the first quarter valued at approximately $25,000. Colonial Trust Co SC boosted its stake in Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 71 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 154 shares during the last quarter. Finally, Transce3nd LLC bought a new position in Landstar System in the fourth quarter valued at approximately $60,000. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of recent research reports. Barclays began coverage on shares of Landstar System in a research note on Monday, June 9th. They issued an “equal weight” rating and a $145.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of Landstar System from $147.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, May 14th. Susquehanna reissued a “neutral” rating and set a $125.00 price target (up from $120.00) on shares of Landstar System in a research report on Tuesday. Evercore ISI dropped their price objective 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. Finally, Truist Financial dropped their price objective on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $150.38.

Landstar System Stock Up 1.5%

Landstar System stock opened at $139.44 on Friday. The firm has a market capitalization of $4.87 billion, a PE ratio of 27.61 and a beta of 0.88. The company’s 50-day moving average is $138.35 and its 200-day moving average is $152.79. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Sell-side analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 1.15%. Landstar System’s payout ratio is currently 31.68%.

Landstar System 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.