Parthenon LLC Reduces Stake in Landstar System, Inc. (LSTR)

Parthenon LLC lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,555 shares of the transportation company’s stock after selling 2,575 shares during the period. Landstar System makes up 1.8% of Parthenon LLC’s investment portfolio, making the stock its 15th biggest holding. Parthenon LLC owned about 0.19% of Landstar System worth $7,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LSTR. Advisor Group Inc. raised its holdings in shares of Landstar System by 64.8% during the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 599 shares during the period. IFP Advisors Inc raised its holdings in shares of Landstar System by 2.9% during the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 47 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Landstar System by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 224 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Landstar System by 22.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 373 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Landstar System during the second quarter valued at about $202,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.05. The business had revenue of $943.40 million during the quarter, compared to analysts’ expectations of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th will be issued a $0.10 dividend. The ex-dividend date is Monday, November 13th. This represents a $0.40 annualized dividend and a yield of 0.41%. Landstar System’s dividend payout ratio (DPR) is presently 11.08%.

Several equities analysts have recently weighed in on LSTR shares. Robert W. Baird reiterated a “hold” rating and set a $102.00 price objective on shares of Landstar System in a report on Friday, October 6th. Deutsche Bank AG lowered shares of Landstar System from a “buy” rating to a “hold” rating and lowered their target price for the stock from $97.00 to $87.00 in a report on Monday, July 31st. Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price on shares of Landstar System in a report on Tuesday, September 12th. Stephens upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $88.00 to $103.00 in a report on Wednesday, August 30th. Finally, Morgan Stanley upped their target price on shares of Landstar System from $68.00 to $73.00 and gave the stock an “underweight” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $96.67.

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Landstar System Company Profile

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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