Morgan Stanley Lowers Stake in Landstar System, Inc. (NASDAQ:LSTR)

Morgan Stanley reduced its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 31.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,385 shares of the transportation company’s stock after selling 23,994 shares during the quarter. Morgan Stanley owned 0.13% of Landstar System worth $5,766,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of Landstar System by 3.8% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 405,097 shares of the transportation company’s stock worth $43,746,000 after acquiring an additional 14,681 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Landstar System by 27.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 684,082 shares of the transportation company’s stock worth $73,874,000 after acquiring an additional 147,056 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Landstar System by 3.1% during the 2nd quarter. Retirement Systems of Alabama now owns 104,530 shares of the transportation company’s stock worth $11,288,000 after acquiring an additional 3,150 shares in the last quarter. APG Asset Management N.V. boosted its stake in shares of Landstar System by 81.8% during the 2nd quarter. APG Asset Management N.V. now owns 228,900 shares of the transportation company’s stock worth $21,706,000 after acquiring an additional 103,000 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Landstar System during the 2nd quarter worth about $917,000.

LSTR opened at $114.08 on Tuesday. Landstar System, Inc. has a twelve month low of $90.23 and a twelve month high of $120.23. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $112.22 and a 200 day moving average price of $108.84. The company has a market cap of $4.50 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.01). Landstar System had a return on equity of 36.17% and a net margin of 5.82%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $1.51 EPS. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.07 earnings per share for the current year.

Several equities research analysts have recently issued reports on LSTR shares. Cowen reissued a “hold” rating and set a $119.00 target price on shares of Landstar System in a research note on Thursday, July 25th. Wolfe Research raised shares of Landstar System from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 28th. BidaskClub raised shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Deutsche Bank set a $107.00 target price on shares of Landstar System and gave the stock a “hold” rating in a research note on Thursday, July 11th. Finally, Buckingham Research lowered their target price on shares of Landstar System from $115.00 to $113.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $112.07.

Landstar System Company 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 service providers.

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

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