Balyasny Asset Management L.P. Invests $1.35 Million in Landstar System, Inc. (NASDAQ:LSTR)

Balyasny Asset Management L.P. purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,828 shares of the transportation company's stock, valued at approximately $1,345,000.

Other large investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock valued at $646,985,000 after buying an additional 521,695 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Landstar System by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock valued at $278,673,000 after buying an additional 11,146 shares during the period. Geode Capital Management LLC raised its holdings 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 buying an additional 4,392 shares during the period. Northern Trust Corp raised its holdings in shares of Landstar System by 15.6% in the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after buying an additional 90,672 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Landstar System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock valued at $106,184,000 after buying an additional 9,190 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Stock Down 0.6%

Landstar System stock traded down $0.88 during midday trading on Monday, reaching $144.21. The company's stock had a trading volume of 297,857 shares, compared to its average volume of 292,920. The company has a market cap of $5.04 billion, a P/E ratio of 26.13 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $141.09 and a 200-day simple moving average of $161.77. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Landstar System's revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.32 EPS. On average, research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from Landstar System's previous quarterly dividend of $0.36. Landstar System's payout ratio is currently 31.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Susquehanna cut their price objective on Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. UBS Group set a $154.00 price objective on Landstar System in a report on Wednesday, May 14th. Jefferies Financial Group cut their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on Landstar System from $177.00 to $147.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Evercore ISI cut their price target on Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $150.42.

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 services.