Bayforest Capital Ltd Raises Position 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 grew its position in 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 buying 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 SEC filing.

Several other large investors have also bought and sold shares of LSTR. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Landstar System by 8.5% in 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 buying an additional 319,101 shares during the last quarter. Reinhart Partners LLC. purchased a new position in Landstar System in the first quarter worth about $42,887,000. Nuveen LLC purchased a new position in Landstar System in the first quarter worth about $34,540,000. Ameriprise Financial Inc. raised its holdings in Landstar System by 120.7% in the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after buying an additional 90,391 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Landstar System by 13,120.0% in the first quarter. GAMMA Investing LLC now owns 67,290 shares of the transportation company's stock worth $10,107,000 after buying an additional 66,781 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $129.74 on Thursday. Landstar System, Inc. has a fifty-two week low of $123.43 and a fifty-two week high of $196.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a fifty day moving average price of $134.64 and a 200 day moving average price of $139.86. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 27.20 and a beta of 0.84.

Landstar System (NASDAQ:LSTR - Get Free Report) last released 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. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $1.48 earnings per share. Landstar System's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 19th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System's dividend payout ratio (DPR) is 33.54%.

Wall Street Analyst Weigh In

LSTR has been the subject of several recent analyst reports. Barclays assumed coverage on shares of Landstar System in a report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 target price for the company. Baird R W upgraded shares of Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Stifel Nicolaus reduced their price target on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Landstar System from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Landstar System has an average rating of "Hold" and a consensus price target of $145.17.

About Landstar System

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.

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