Envestnet Asset Management Inc. increased its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,786 shares of the transportation company's stock after acquiring an additional 2,318 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.57% of Landstar System worth $29,707,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Landstar System in the first quarter worth $25,000. Colonial Trust Co SC boosted its position in shares of Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after buying an additional 71 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after buying an additional 154 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Landstar System by 35.3% in the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock worth $48,000 after buying an additional 84 shares during the period. Finally, BOKF NA boosted its position in shares of Landstar System by 56.1% in the fourth quarter. BOKF NA now owns 348 shares of the transportation company's stock worth $58,000 after buying an additional 125 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.
Landstar System Stock Performance
Shares of Landstar System stock traded down $1.73 during trading on Friday, reaching $134.77. The company's stock had a trading volume of 180,846 shares, compared to its average volume of 306,944. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. The business's fifty day moving average price is $140.23 and its 200-day moving average price is $149.30. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 26.71 and a beta of 0.88. Landstar System, Inc. has a one year low of $128.99 and a one year high of $196.86.
Landstar System (NASDAQ:LSTR - Get Free Report) last posted 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, equities research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.
Landstar System Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.19%. This is a positive change from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, June 5th. Landstar System's payout ratio is currently 31.68%.
Analyst Ratings Changes
A number of analysts recently issued reports on LSTR shares. Jefferies Financial Group reduced their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their price objective on Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a research report on Wednesday, May 14th. Benchmark reissued a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Finally, Baird R W raised Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Landstar System currently has an average rating of "Hold" and an average target price of $151.31.
Check Out Our Latest Stock Report on LSTR
About Landstar System
(
Free Report)
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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