Ashton Thomas Private Wealth LLC Sells 170 Shares of Landstar System, Inc. $LSTR

Ashton Thomas Private Wealth LLC lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,778 shares of the transportation company’s stock after selling 170 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Landstar System were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Landstar System by 118.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after acquiring an additional 152 shares in the last quarter. Brooklyn Investment Group grew its holdings in Landstar System by 352.2% in the first quarter. Brooklyn Investment Group now owns 312 shares of the transportation company’s stock worth $47,000 after purchasing an additional 243 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Landstar System by 58.5% during the first quarter. Allworth Financial LP now owns 344 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 127 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Up 0.7%

Landstar System stock opened at $125.35 on Friday. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $196.86. The stock has a fifty day simple moving average of $128.25 and a two-hundred day simple moving average of $134.23. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 31.98 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was down .7% 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Landstar System’s dividend payout ratio (DPR) is presently 40.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LSTR. Stifel Nicolaus cut their price target on Landstar System from $130.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday. Evercore ISI dropped their target price on Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. TD Cowen cut their target price on Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday. Truist Financial reduced their price target on Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Zacks Research cut shares of Landstar System from a “hold” rating to a “strong sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $134.60.

Landstar System Company 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.