Envestnet Asset Management Inc. Raises Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Envestnet Asset Management Inc. grew its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,786 shares of the transportation company's stock after buying an additional 2,318 shares during the period. Envestnet Asset Management Inc. owned 0.57% of Landstar System worth $29,707,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Landstar System in the first quarter valued at about $25,000. Colonial Trust Co SC lifted its holdings 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 worth $32,000 after acquiring an additional 71 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Landstar System by 106.2% in the 1st 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. First Horizon Advisors Inc. boosted its position in shares of Landstar System by 35.3% during the 1st 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, BOKF NA increased its holdings in Landstar System by 56.1% in the 4th quarter. BOKF NA now owns 348 shares of the transportation company's stock valued at $58,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Price Performance

Landstar System stock opened at $140.00 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03. The business has a 50 day simple moving average of $139.98 and a 200-day simple moving average of $149.98. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The stock has a market capitalization of $4.89 billion, a PE ratio of 27.72 and a beta of 0.88.

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

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a $0.40 dividend. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. Landstar System's dividend payout ratio (DPR) is 31.68%.

Analyst Ratings Changes

A number of research firms have commented on LSTR. Barclays began coverage on Landstar System in a research note on Monday, June 9th. They set an "equal weight" rating and a $145.00 price target on the stock. Baird R W upgraded Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Wall Street Zen downgraded Landstar System from a "hold" rating to a "sell" rating in a research report on Saturday. Truist Financial reduced their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, Evercore ISI reduced their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $151.31.

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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