Ballentine Partners LLC Acquires New Stake in Landstar System, Inc. (NASDAQ:LSTR)

Ballentine Partners LLC bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,195 shares of the transportation company's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Alpine Bank Wealth Management purchased a new position in Landstar System in the 1st quarter worth approximately $25,000. Colonial Trust Co SC lifted its holdings in shares of Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after buying an additional 71 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after buying an additional 154 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after acquiring an additional 84 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Landstar System by 58.5% during the first quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock valued at $48,000 after acquiring an additional 127 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Shares of LSTR traded down $0.23 during trading hours on Friday, hitting $136.27. The stock had a trading volume of 720,998 shares, compared to its average volume of 309,313. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a 50-day moving average price of $140.24 and a 200 day moving average price of $149.06. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 26.98 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the company earned $1.32 EPS. Landstar System's quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate 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 was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were issued a $0.40 dividend. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.17%. Landstar System's dividend payout ratio (DPR) is 31.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LSTR shares. Evercore ISI decreased their price target on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 14th. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Jefferies Financial Group decreased their price target on shares of 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 shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Finally, TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $151.31.

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.