First Citizens Bank & Trust Co. Makes New Investment in Landstar System, Inc. $LSTR

First Citizens Bank & Trust Co. purchased a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,049 shares of the transportation company's stock, valued at approximately $563,000.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company's stock worth $39,000 after acquiring an additional 152 shares in the last quarter. Golden State Wealth Management LLC increased its holdings 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 acquiring an additional 154 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Landstar System by 352.2% in the first quarter. Brooklyn Investment Group now owns 312 shares of the transportation company's stock worth $47,000 after acquiring an additional 243 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 84 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $130.17 on Friday. The stock has a 50 day moving average price of $128.47 and a 200 day moving average price of $134.60. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $196.86. 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 stock has a market capitalization of $4.51 billion, a PE ratio of 27.29 and a beta of 0.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 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 firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business's quarterly revenue was down 1.1% compared to the same quarter last year. Analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System's dividend payout ratio is 33.54%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group lowered their price target on Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their price objective on Landstar System from $147.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 8th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Landstar System in a report on Saturday. Zacks Research upgraded Landstar System from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Finally, Stifel Nicolaus decreased their price objective on Landstar System from $131.00 to $130.00 and set a "hold" rating for the company in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $142.36.

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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