GAMMA Investing LLC Grows Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

GAMMA Investing LLC boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 13,120.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,290 shares of the transportation company's stock after buying an additional 66,781 shares during the quarter. GAMMA Investing LLC owned 0.19% of Landstar System worth $10,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LSTR. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 16.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock valued at $646,985,000 after purchasing an additional 521,695 shares during the last quarter. Victory Capital Management Inc. increased its position in Landstar System by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock valued at $278,673,000 after acquiring an additional 11,146 shares during the last quarter. Geode Capital Management LLC increased its position in Landstar System by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock valued at $140,602,000 after acquiring an additional 4,392 shares during the last quarter. Northern Trust Corp lifted its holdings in Landstar System by 15.6% in the fourth quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after acquiring an additional 90,672 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Landstar System by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock worth $106,184,000 after purchasing an additional 9,190 shares during the last quarter. Institutional investors own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of research reports. Wall Street Zen downgraded shares of Landstar System from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Jefferies Financial Group dropped their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial decreased their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus lowered their target price on Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Two analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $150.42.

Landstar System Price Performance

LSTR traded up $0.08 on Friday, hitting $140.09. 222,107 shares of the company's stock traded hands, compared to its average volume of 300,759. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a one year low of $128.99 and a one year high of $196.86. The company's 50 day simple moving average is $138.21 and its 200-day simple moving average is $157.37. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 25.38 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Landstar System's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 EPS. As a group, research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be given a $0.40 dividend. This is an increase from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System's payout ratio is currently 31.68%.

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.