Hsbc Holdings PLC Sells 3,401 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Hsbc Holdings PLC lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 67.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the transportation company’s stock after selling 3,401 shares during the quarter. Hsbc Holdings PLC’s holdings in Landstar System were worth $298,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LSTR. Vanguard Personalized Indexing Management LLC raised its position in shares of Landstar System by 15.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,541 shares of the transportation company’s stock valued at $1,022,000 after purchasing an additional 747 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Landstar System by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after acquiring an additional 37,020 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Landstar System by 9.3% in the second quarter. Envestnet Asset Management Inc. now owns 174,186 shares of the transportation company’s stock worth $32,134,000 after acquiring an additional 14,823 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Landstar System by 0.5% in the second quarter. GHP Investment Advisors Inc. now owns 64,607 shares of the transportation company’s stock valued at $11,919,000 after purchasing an additional 309 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Landstar System during the 2nd quarter valued at $134,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 1.8 %

LSTR stock opened at $181.27 on Friday. The company has a market capitalization of $6.48 billion, a PE ratio of 27.89 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $201.40. The firm’s 50-day moving average is $185.05 and its 200 day moving average is $182.68.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, research analysts anticipate that Landstar System, Inc. will post 5.87 EPS for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is currently 22.15%.

Analysts Set New Price Targets

LSTR has been the topic of a number of research reports. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Susquehanna upped their price target on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus dropped their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $179.00.

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.