Magnetar Financial LLC Takes Position in Landstar System, Inc. $LSTR

Key Points

• Magnetar Financial LLC acquired 22,363 shares of Landstar System, Inc. valued at approximately $3,359,000, representing about 0.06% ownership in the company.
• Analysts have mixed ratings on Landstar System, with one "Strong Buy," one "Buy," twelve "Hold," and one "Sell," peaking at a consensus target price of $145.17.
• The company reported $1.20 earnings per share (EPS) for the last quarter, exceeding expectations, though revenue was down 1.1% year-over-year.

Magnetar Financial LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,363 shares of the transportation company's stock, valued at approximately $3,359,000. Magnetar Financial LLC owned about 0.06% of Landstar System at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Landstar System by 8.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock worth $613,372,000 after purchasing an additional 319,101 shares during the period. Victory Capital Management Inc. boosted its position in Landstar System by 2.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company's stock valued at $248,567,000 after buying an additional 33,399 shares during the period. Northern Trust Corp boosted its position in Landstar System by 9.1% in the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock valued at $110,285,000 after buying an additional 61,477 shares during the period. Invesco Ltd. boosted its position in Landstar System by 1.9% in the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company's stock valued at $69,446,000 after buying an additional 8,623 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Landstar System by 2.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 438,459 shares of the transportation company's stock valued at $75,354,000 after buying an additional 8,531 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analyst Weigh In

LSTR has been the topic of several recent analyst reports. Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. reduced their price objective on Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Susquehanna set a $123.00 price target on shares of Landstar System and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Barclays began coverage on shares of Landstar System in a research report on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of Landstar System in a research note on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Landstar System presently has an average rating of "Hold" and a consensus price target of $145.17.

Landstar System Stock Up 1.0%

Shares of LSTR traded up $1.25 during midday trading on Thursday, hitting $132.61. The company had a trading volume of 83,461 shares, compared to its average volume of 369,612. The company's 50 day moving average price is $135.62 and its 200 day moving average price is $140.84. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 27.80 and a beta of 0.84. Landstar System, Inc. has a 52 week low of $123.43 and a 52 week high of $196.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The company's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 EPS. On average, equities research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System's dividend payout ratio is 33.54%.

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.