DekaBank Deutsche Girozentrale Grows Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

DekaBank Deutsche Girozentrale boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 94.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,729 shares of the transportation company's stock after acquiring an additional 30,038 shares during the period. DekaBank Deutsche Girozentrale owned about 0.18% of Landstar System worth $9,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Landstar System by 120.7% during the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after acquiring an additional 90,391 shares during the last quarter. Golden State Wealth Management LLC raised its position in Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after acquiring an additional 154 shares during the last quarter. SG Americas Securities LLC acquired a new position in Landstar System during the first quarter worth about $948,000. Oppenheimer Asset Management Inc. acquired a new position in Landstar System during the first quarter worth about $816,000. Finally, Pictet Asset Management Holding SA raised its position in Landstar System by 14.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company's stock worth $927,000 after acquiring an additional 665 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Trading Down 1.7%

Landstar System stock traded down $2.47 during trading on Friday, reaching $143.26. The company had a trading volume of 363,872 shares, compared to its average volume of 306,254. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The stock's 50 day moving average price is $139.98 and its two-hundred day moving average price is $150.33. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 28.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Landstar System's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.12%. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. Landstar System's payout ratio is presently 31.68%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a research report on Wednesday, May 14th. UBS Group set a $154.00 price objective on shares of Landstar System in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday. Jefferies Financial Group cut their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Baird R W raised shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $151.31.

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.