Balyasny Asset Management L.P. Acquires Shares of 7,828 Landstar System, Inc. (NASDAQ:LSTR)

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

Other institutional investors have also modified their holdings of the company. Roberts Wealth Advisors LLC increased its stake in shares of Landstar System by 1.3% in the fourth quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company's stock valued at $818,000 after purchasing an additional 60 shares during the period. Huntington National Bank increased its stake in shares of Landstar System by 12.2% in the fourth quarter. Huntington National Bank now owns 1,037 shares of the transportation company's stock valued at $178,000 after purchasing an additional 113 shares during the period. Bessemer Group Inc. increased its stake in shares of Landstar System by 6.9% in the fourth quarter. Bessemer Group Inc. now owns 2,213 shares of the transportation company's stock valued at $380,000 after purchasing an additional 143 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Landstar System in the fourth quarter valued at approximately $25,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Landstar System by 1.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,158 shares of the transportation company's stock valued at $1,746,000 after purchasing an additional 146 shares during the period. Institutional investors own 97.95% of the company's stock.

Landstar System Price Performance

LSTR stock traded up $0.50 on Friday, hitting $145.09. 472,605 shares of the company's stock traded hands, compared to its average volume of 292,597. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 26.28 and a beta of 0.92. The stock has a fifty day moving average of $141.22 and a 200-day moving average of $162.20. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. On average, analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. 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 dividend payout ratio is 31.68%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LSTR shares. Jefferies Financial Group decreased their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. TD Cowen decreased their price objective on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Evercore ISI decreased their price objective on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a report on Wednesday. Finally, Benchmark reiterated a "hold" rating on shares of Landstar System in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $153.08.

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.