Capital Fund Management S.A. Grows Holdings in Landstar System, Inc. $LSTR

Key Points

• Capital Fund Management S.A. significantly increased its holdings in Landstar System, Inc. by 87.7% in Q1, owning a total of 57,092 shares worth approximately $8.58 million.
• Landstar System recently reported a quarterly earnings per share of $1.20, exceeding analyst expectations of $1.16, while also revealing a revenue of $1.21 billion for the same quarter.
• The company announced a quarterly dividend of $0.40, which reflects an annualized dividend yield of 1.2% and a payout ratio of 33.54%.

Capital Fund Management S.A. raised its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 87.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,092 shares of the transportation company's stock after purchasing an additional 26,676 shares during the quarter. Capital Fund Management S.A. owned about 0.16% of Landstar System worth $8,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Reinhart Partners LLC. bought a new position in Landstar System during the 1st quarter valued at $42,887,000. Nuveen LLC bought a new position in Landstar System during the first quarter worth $34,540,000. Lord Abbett & CO. LLC increased its holdings in Landstar System by 116.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock valued at $47,205,000 after buying an additional 147,756 shares during the period. Northern Trust Corp lifted its position in Landstar System by 15.6% during the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock worth $115,624,000 after buying an additional 90,672 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock valued at $28,408,000 after purchasing an additional 90,391 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several analyst reports. Wall Street Zen cut shares of Landstar System from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Susquehanna set a $123.00 price target on Landstar System and gave the company a "neutral" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their price objective on Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Stifel Nicolaus dropped their target price on Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a report on Thursday, July 31st. Finally, Baird R W raised Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Landstar System currently has an average rating of "Hold" and an average price target of $145.17.

Landstar System Stock Performance

LSTR traded up $0.12 during trading on Wednesday, reaching $132.66. The company's stock had a trading volume of 92,008 shares, compared to its average volume of 369,643. The company's fifty day moving average price is $136.34 and its 200-day moving average price is $141.89. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 27.89 and a beta of 0.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System, Inc. has a 52-week low of $123.43 and a 52-week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.Landstar System's revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. On average, equities analysts forecast 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 will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System's payout ratio is 33.54%.

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.