Janney Montgomery Scott LLC Makes New $505,000 Investment in Landstar System, Inc. (NASDAQ:LSTR)

Janney Montgomery Scott LLC bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,361 shares of the transportation company's stock, valued at approximately $505,000.

A number of other hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in Landstar System by 120.7% in the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock valued at $28,408,000 after acquiring an additional 90,391 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Landstar System in the first quarter valued at approximately $948,000. Pictet Asset Management Holding SA lifted its position in Landstar System by 14.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company's stock worth $927,000 after buying an additional 665 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Landstar System by 42.9% during the first quarter. Farther Finance Advisors LLC now owns 1,884 shares of the transportation company's stock worth $283,000 after buying an additional 566 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Landstar System by 10.1% in the 1st quarter. Fifth Third Bancorp now owns 1,231 shares of the transportation company's stock valued at $185,000 after buying an additional 113 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LSTR shares. Susquehanna reissued a "neutral" rating and set a $125.00 price target (up previously from $120.00) on shares of Landstar System in a research report on Tuesday, June 24th. JPMorgan Chase & Co. decreased their target price on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Robert W. Baird initiated coverage on shares of Landstar System in a research note on Tuesday. They issued an "outperform" rating and a $166.00 price target for the company. 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, Benchmark reiterated a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $151.50.

Landstar System Stock Down 0.3%

LSTR stock traded down $0.50 during midday trading on Thursday, hitting $146.06. The company's stock had a trading volume of 178,677 shares, compared to its average volume of 302,938. Landstar System, Inc. has a 52-week low of $128.99 and a 52-week high of $196.86. The firm has a 50-day simple moving average of $138.75 and a 200-day simple moving average of $151.89. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.10 billion, a P/E ratio of 28.92 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 earnings per share. As a group, equities analysts forecast that Landstar System, Inc. will post 6.1 EPS 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 $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.10%. This is an increase from Landstar System's previous quarterly dividend of $0.36. 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.