AIA Group Ltd Decreases Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

AIA Group Ltd trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 59.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,444 shares of the transportation company’s stock after selling 3,570 shares during the period. AIA Group Ltd’s holdings in Landstar System were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its position in shares of Landstar System by 2.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock valued at $387,000 after purchasing an additional 57 shares during the last quarter. Quent Capital LLC grew its position in Landstar System by 10.5% in the 1st quarter. Quent Capital LLC now owns 918 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 87 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Landstar System by 17.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 616 shares of the transportation company’s stock valued at $119,000 after acquiring an additional 92 shares during the last quarter. Quadrant Capital Group LLC grew its position in Landstar System by 9.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,045 shares of the transportation company’s stock valued at $202,000 after acquiring an additional 94 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in Landstar System by 1.2% in the 4th quarter. State of Michigan Retirement System now owns 8,670 shares of the transportation company’s stock valued at $1,679,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 1.1 %

Shares of NASDAQ LSTR traded up $1.99 during mid-day trading on Friday, reaching $180.56. 259,818 shares of the company were exchanged, compared to its average volume of 270,990. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 27.78 and a beta of 0.80. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $208.62. The firm has a 50-day moving average of $181.31 and a 200 day moving average of $185.27.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. On average, research analysts expect that Landstar System, Inc. will post 6.29 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, May 7th. Landstar System’s dividend payout ratio (DPR) is presently 20.31%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Evercore ISI upped their price objective on Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Raymond James began coverage on Landstar System in a research report on Wednesday, May 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Susquehanna lowered their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Morgan Stanley lowered their target price on Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Friday, April 26th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $182.55.

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.