2,567 Shares in Landstar System, Inc. $LSTR Bought by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management LLC purchased 2,567 shares of Landstar System, Inc., valued at approximately $357,000, indicating continued interest from institutional investors.
• Major analysts have given Landstar System a range of ratings, with an average target price of $144.58 and 97.95% of its stock owned by institutional investors.
• Landstar recently announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend yield of 1.3%.

Perigon Wealth Management LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,567 shares of the transportation company's stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Landstar System by 8.5% during the first 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. raised 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 purchasing an additional 33,399 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Landstar System by 9.1% in the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock valued at $110,285,000 after purchasing an additional 61,477 shares in the last quarter. Invesco Ltd. raised its holdings in Landstar System by 1.9% during the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company's stock worth $69,446,000 after purchasing an additional 8,623 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its stake in Landstar System by 49.2% in the second quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company's stock valued at $59,229,000 after buying an additional 140,500 shares during the period. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on LSTR shares. Susquehanna set a $123.00 target price on shares of Landstar System and gave the stock a "neutral" rating in a report on Wednesday, July 30th. UBS Group reduced their price target on Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their target price on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Robert W. Baird assumed 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 on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Landstar System presently has an average rating of "Hold" and an average target price of $144.58.

Landstar System Stock Performance

Shares of Landstar System stock opened at $122.56 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $196.86. The company has a market cap of $4.25 billion, a PE ratio of 25.69 and a beta of 0.84. The company has a 50 day moving average of $130.30 and a 200-day moving average of $136.77.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The business 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 firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS. As a group, equities research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. Landstar System's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.