Bayforest Capital Ltd Has $395,000 Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Key Points

• Bayforest Capital Ltd increased its stock position in Landstar System, Inc. by 2,700% in Q1, owning 2,632 shares valued at $395,000.
• Analysts have cut their target prices for Landstar System, with a range from $123.00 to $154.00, and the stock is currently rated as a "Hold" by most.
• Landstar System will pay a quarterly dividend of $0.40 on September 9th, reflecting an annualized dividend yield of 1.2%.

Bayforest Capital Ltd lifted its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2,700.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,632 shares of the transportation company's stock after acquiring an additional 2,538 shares during the period. Bayforest Capital Ltd's holdings in Landstar System were worth $395,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Colonial Trust Co SC boosted its stake in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Landstar System by 35.3% during the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Landstar System by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock worth $465,000 after buying an additional 85 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Landstar System by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company's stock worth $1,272,000 after buying an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Landstar System by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company's stock worth $1,487,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LSTR. Baird R W upgraded shares of Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group decreased their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Evercore ISI decreased their price target on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Finally, Barclays began coverage on shares of Landstar System in a research note on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $145.17.

Landstar System Stock Performance

LSTR traded up $1.89 on Tuesday, hitting $130.24. The company had a trading volume of 121,155 shares, compared to its average volume of 371,676. The company's fifty day moving average price is $139.28 and its 200 day moving average price is $146.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00. Landstar System, Inc. has a 1-year low of $126.70 and a 1-year high of $196.86. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 27.33 and a beta of 0.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company posted $1.48 earnings per share. Landstar System's revenue was down 1.1% on a year-over-year basis. Equities analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

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

Landstar System 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.