Bayforest Capital Ltd Increases Stake in Landstar System, Inc. $LSTR

Key Points

• Bayforest Capital Ltd significantly increased its stake in Landstar System, Inc. by 2,700.0% in the first quarter, now holding 2,632 shares valued at approximately $395,000.
• Landstar recently reported a quarterly earnings per share (EPS) of $1.20, surpassing analyst estimates, though revenue declined by 1.1% year-over-year.
• The company's quarterly dividend of $0.40 per share, which was paid on September 9th, gives an annual yield of 1.2% with a payout ratio of 33.54%.

Bayforest Capital Ltd boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2,700.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,632 shares of the transportation company's stock after purchasing 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 Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Landstar System by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company's stock valued at $21,380,000 after purchasing an additional 16,698 shares in the last quarter. Empowered Funds LLC lifted its stake in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company's stock valued at $704,000 after acquiring an additional 1,298 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Landstar System during the 1st quarter worth about $343,000. Caxton Associates LLP acquired a new stake in shares of Landstar System during the 1st quarter worth about $899,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Landstar System by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company's stock worth $20,729,000 after buying an additional 50,142 shares during the last quarter. Institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on LSTR shares. Susquehanna set a $123.00 target price on shares of Landstar System and gave the company a "neutral" rating in a report on Wednesday, July 30th. TD Cowen reduced their target price on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a report on Wednesday, July 30th. Stifel Nicolaus dropped their price target 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. Evercore ISI dropped their target price on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Landstar System from a "sell" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Landstar System has an average rating of "Hold" and an average price target of $145.17.

Landstar System Trading Up 0.5%

Shares of Landstar System stock traded up $0.59 on Tuesday, hitting $129.63. The stock had a trading volume of 49,470 shares, compared to its average volume of 368,903. 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, Inc. has a one year low of $123.43 and a one year high of $196.86. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 27.20 and a beta of 0.84. The stock's 50-day simple moving average is $133.75 and its two-hundred day simple moving average is $139.05.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 earnings per share. As a group, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System's dividend payout ratio is presently 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.