Parkside Financial Bank & Trust Raises Stake in Landstar System, Inc. $LSTR

Parkside Financial Bank & Trust increased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 1,320.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,506 shares of the transportation company’s stock after purchasing an additional 1,400 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Landstar System were worth $209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position 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 period. Envestnet Asset Management Inc. grew its holdings in shares of Landstar System by 1.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock worth $29,707,000 after acquiring an additional 2,318 shares during the period. Brown Advisory Inc. increased its stake in Landstar System by 31.7% in the 1st quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock valued at $1,225,000 after purchasing an additional 1,961 shares in the last quarter. Allworth Financial LP increased its stake in Landstar System by 58.5% in the 1st quarter. Allworth Financial LP now owns 344 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 127 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in Landstar System by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company’s stock worth $1,272,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Performance

Shares of LSTR opened at $130.13 on Monday. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $196.86. The company’s 50 day simple moving average is $127.64 and its 200 day simple moving average is $133.79. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 33.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.00 and a current ratio of 2.01.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System’s dividend payout ratio is 40.82%.

Analysts Set New Price Targets

LSTR has been the topic of several research reports. Barclays lowered their target price on Landstar System from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Susquehanna decreased their price objective on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Wall Street Zen downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a report on Sunday. Evercore ISI reduced their price target on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.