CCM Investment Group LLC Makes New $510,000 Investment in Landstar System, Inc. (NASDAQ:LSTR)

Key Points

• CCM Investment Group LLC has made a new investment of $510,000 in Landstar System, purchasing 3,460 shares during the first quarter.
• The company announced a quarterly dividend of $0.40 per share, with an annualized yield of 1.3%.
• Landstar System's recent earnings report showed $1.20 earnings per share, surpassing estimates, but a 1.1% year-over-year decline in revenue.

CCM Investment Group LLC purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,460 shares of the transportation company's stock, valued at approximately $510,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LSTR. Alpine Bank Wealth Management acquired a new stake in Landstar System during the 1st quarter worth about $25,000. Colonial Trust Co SC lifted its stake in shares of Landstar System by 61.7% in 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 during the period. Golden State Wealth Management LLC boosted its position in shares of Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after purchasing an additional 154 shares in the last quarter. First Horizon Advisors Inc. grew its stake in 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 purchasing an additional 84 shares during the period. Finally, Allworth Financial LP increased its holdings in Landstar System by 58.5% in the first quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock worth $48,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $127.08 on Monday. 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's 50-day simple moving average is $138.45 and its 200 day simple moving average is $144.75. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 26.64 and a beta of 0.86. Landstar System, Inc. has a fifty-two week low of $126.70 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Landstar System's quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. Landstar System's dividend payout ratio is currently 33.54%.

Analyst Upgrades and Downgrades

LSTR has been the topic of several recent analyst reports. Truist Financial dropped their price target on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Susquehanna set a $123.00 target price on shares of Landstar System and gave the company a "neutral" rating in a research report on Wednesday, July 30th. 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 report on Thursday, July 31st. Evercore ISI dropped their price objective on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Finally, TD Cowen cut their price objective on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a research report on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Landstar System has a consensus rating of "Hold" and a consensus target price of $145.17.

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.

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