UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Landstar System, Inc. $LSTR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.0% in the 2nd quarter, HoldingsChannel reports. The firm 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’s holdings in Landstar System were worth $21,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Bank of America Corp DE boosted its stake in Landstar System by 13.4% in the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock worth $40,095,000 after buying an additional 29,595 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in shares of Landstar System during the fourth quarter worth approximately $862,000. Norges Bank purchased a new position in shares of Landstar System during the fourth quarter worth approximately $35,280,000. Walleye Capital LLC purchased a new position in shares of Landstar System during the second quarter worth approximately $21,043,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Landstar System in the 2nd quarter worth approximately $6,064,000. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Landstar System

In other Landstar System news, CFO James Todd sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.74% of the company’s stock.

Landstar System Trading Up 2.1%

LSTR opened at $177.92 on Friday. The business has a 50 day simple moving average of $192.06 and a two-hundred day simple moving average of $182.72. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 46.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $1.20 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Analysts predict that Landstar System, Inc. will post 5.84 EPS for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. Landstar System’s dividend payout ratio (DPR) is presently 45.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LSTR. Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Robert W. Baird decreased their target price on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Stifel Nicolaus boosted their price target on shares of Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price target for the company in a research report on Tuesday, August 4th. Finally, Susquehanna raised their price objective on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average price target of $196.00.

Landstar System Profile

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.