Kayne Anderson Rudnick Investment Management LLC Buys 319,101 Shares of Landstar System, Inc. $LSTR

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Landstar System, owning approximately 4.08 million shares, which makes up 1.5% of its investment portfolio, valued at $613.37 million.
• Landstar System announced a quarterly dividend of $0.40, translating to an annual yield of 1.2%, with shares trading at $135.76 as of the latest reported date.
• Analysts have generally rated Landstar System with a consensus rating of "Hold" and a target price of $145.17, with recent price estimates from various firms reflecting a cautious outlook.

Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,083,704 shares of the transportation company's stock after buying an additional 319,101 shares during the period. Landstar System accounts for approximately 1.5% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 16th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned about 11.69% of Landstar System worth $613,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LSTR. Reinhart Partners LLC. acquired a new position in Landstar System during the 1st quarter valued at about $42,887,000. Nuveen LLC bought a new stake in shares of Landstar System in the 1st quarter valued at about $34,540,000. Lord Abbett & CO. LLC increased its stake in Landstar System by 116.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock worth $47,205,000 after purchasing an additional 147,756 shares in the last quarter. Northern Trust Corp increased its stake in Landstar System by 15.6% during the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock worth $115,624,000 after purchasing an additional 90,672 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after purchasing an additional 90,391 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of Landstar System stock traded up $0.78 during trading on Friday, reaching $132.59. The company's stock had a trading volume of 104,730 shares, compared to its average volume of 371,636. The business's 50-day moving average price is $136.15 and its 200-day moving average price is $141.64. The firm has a market cap of $4.59 billion, a PE ratio of 27.80 and a beta of 0.86. Landstar System, Inc. has a 52 week low of $123.43 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.

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

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System's dividend payout ratio is currently 33.54%.

Analysts Set New Price Targets

LSTR has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Evercore ISI decreased their price target on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. TD Cowen decreased their price target on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a research note on Wednesday, July 30th. Baird R W raised shares of Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Barclays initiated coverage on Landstar System in a report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Landstar System has a consensus rating of "Hold" and a consensus target price of $145.17.

Landstar System Company 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.