Sepio Capital LP Reduces Stake in Landstar System, Inc. (NASDAQ:LSTR)

Sepio Capital LP cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,585 shares of the transportation company’s stock after selling 275 shares during the quarter. Sepio Capital LP’s holdings in Landstar System were worth $1,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LSTR. Victory Capital Management Inc. lifted its holdings in Landstar System by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after buying an additional 11,146 shares during the period. State Street Corp raised its position in shares of Landstar System by 1.4% in the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after acquiring an additional 15,328 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Landstar System by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock valued at $140,602,000 after purchasing an additional 4,392 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Landstar System by 5.5% in the 4th quarter. Wells Fargo & Company MN now owns 414,116 shares of the transportation company’s stock valued at $71,170,000 after purchasing an additional 21,514 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Landstar System by 4.3% in the fourth quarter. Bank of New York Mellon Corp now owns 389,019 shares of the transportation company’s stock worth $66,857,000 after purchasing an additional 15,986 shares during the period. Institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LSTR. JPMorgan Chase & Co. lowered their price objective on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research report on Thursday. Susquehanna lowered their price target on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, March 26th. Stifel Nicolaus upped their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Thursday. Finally, Truist Financial cut their price target on Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $160.45.

Landstar System Stock Performance

LSTR stock opened at $136.64 on Monday. Landstar System, Inc. has a 12-month low of $132.41 and a 12-month high of $196.86. The stock’s 50 day simple moving average is $156.41 and its 200 day simple moving average is $172.27. The stock has a market capitalization of $4.83 billion, a PE ratio of 24.75 and a beta of 0.88. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. As a group, research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 1.05%. Landstar System’s payout ratio is presently 26.09%.

About Landstar System

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.