Cigna Investments Inc. New cut its position in Landstar System, Inc. (NASDAQ:LSTR) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,692 shares of the transportation company’s stock after selling 52 shares during the period. Cigna Investments Inc. New’s holdings in Landstar System were worth $830,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of LSTR. BlackRock Inc. increased its stake in Landstar System by 7,684.2% in the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after buying an additional 4,035,361 shares during the period. First Trust Advisors LP increased its stake in Landstar System by 505.1% in the first quarter. First Trust Advisors LP now owns 264,257 shares of the transportation company’s stock worth $22,634,000 after buying an additional 220,586 shares during the period. Vanguard Group Inc. increased its stake in Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock worth $289,747,000 after buying an additional 130,461 shares during the period. Renaissance Technologies LLC increased its stake in Landstar System by 71.7% in the first quarter. Renaissance Technologies LLC now owns 212,340 shares of the transportation company’s stock worth $18,187,000 after buying an additional 88,700 shares during the period. Finally, AQR Capital Management LLC increased its stake in Landstar System by 78.4% in the first quarter. AQR Capital Management LLC now owns 165,261 shares of the transportation company’s stock worth $14,155,000 after buying an additional 72,636 shares during the period. Hedge funds and other institutional investors own 97.12% of the company’s stock.

Landstar System, Inc. (NASDAQ LSTR) opened at 84.00 on Friday. The company’s 50-day moving average is $85.70 and its 200 day moving average is $85.27. Landstar System, Inc. has a one year low of $65.05 and a one year high of $90.80. The company has a market capitalization of $3.52 billion, a P/E ratio of 24.26 and a beta of 0.75.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The firm had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. During the same period last year, the business earned $0.76 earnings per share. Landstar System’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Landstar System, Inc. will post $3.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $0.10 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.48%. The ex-dividend date is Thursday, August 10th. Landstar System’s dividend payout ratio (DPR) is presently 11.56%.

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A number of analysts have recently weighed in on LSTR shares. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Thursday, July 6th. Cowen and Company boosted their target price on shares of Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. BidaskClub downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Stifel Nicolaus boosted their target price on shares of Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Deutsche Bank AG downgraded shares of Landstar System from a “buy” rating to a “hold” rating and reduced their target price for the stock from $97.00 to $87.00 in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Landstar System has a consensus rating of “Hold” and an average target price of $84.86.

About Landstar System

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.

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

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