Crestline Management LP Takes Position in Landstar System, Inc. (NASDAQ:LSTR)

Crestline Management LP acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,447 shares of the transportation company's stock, valued at approximately $764,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Landstar System by 16.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after purchasing an additional 521,695 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Landstar System during the 4th quarter worth about $63,816,000. Norges Bank purchased a new stake in Landstar System during the 4th quarter worth about $54,088,000. Corient Private Wealth LLC boosted its stake in Landstar System by 1,207.3% in the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after buying an additional 271,417 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Landstar System by 116.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock worth $47,205,000 after buying an additional 147,756 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LSTR. Benchmark reissued a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. Jefferies Financial Group decreased their price target on Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Truist Financial decreased their price target on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Evercore ISI dropped their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus decreased their price target on Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $153.08.

Landstar System Stock Performance

NASDAQ LSTR traded up $2.69 during trading hours on Thursday, hitting $145.14. The company had a trading volume of 104,010 shares, compared to its average volume of 290,235. The firm has a market cap of $5.07 billion, a P/E ratio of 26.32 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. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The business has a fifty day simple moving average of $142.07 and a 200-day simple moving average of $162.84.

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 analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Equities analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.10%. This is a boost from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is currently 26.09%.

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.