Fenimore Asset Management Inc Grows Position in Landstar System, Inc. $LSTR

Key Points

• Fenimore Asset Management Inc has increased its position in Landstar System, Inc. by 4.1%, owning approximately $14.3 million worth of stock as of the end of the second quarter.
• Several institutional investors, including Kayne Anderson Rudnick and Reinhart Partners, have also raised their stakes in Landstar, indicating strong institutional interest.
• The stock has a current average rating of "Hold" from analysts, with a consensus target price of $143.67 despite recent downward adjustments in price targets by some analysts.

Fenimore Asset Management Inc increased its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 102,957 shares of the transportation company's stock after buying an additional 4,036 shares during the quarter. Fenimore Asset Management Inc owned about 0.29% of Landstar System worth $14,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 8.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock valued at $613,372,000 after purchasing an additional 319,101 shares during the last quarter. Nuveen LLC purchased a new stake in Landstar System during the 1st quarter valued at $34,540,000. Reinhart Partners LLC. raised its stake in Landstar System by 49.2% during the 2nd quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company's stock valued at $59,229,000 after buying an additional 140,500 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Landstar System by 13,120.0% in the 1st quarter. GAMMA Investing LLC now owns 67,290 shares of the transportation company's stock worth $10,107,000 after buying an additional 66,781 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Landstar System by 9.1% in the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock worth $110,285,000 after acquiring an additional 61,477 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Stifel Nicolaus lowered their target price on Landstar System from $131.00 to $130.00 and set a "hold" rating on the stock in a report on Friday. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. UBS Group dropped their price target on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Robert W. Baird began coverage on Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 target price on the stock. Finally, Zacks Research upgraded Landstar System from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $143.67.

Landstar System Price Performance

Landstar System stock opened at $122.63 on Monday. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $196.86. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average is $129.18 and its 200 day moving average is $136.14. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 25.71 and a beta of 0.82.

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

Landstar System Dividend Announcement

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

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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