Landstar System, Inc. $LSTR Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its stake in Landstar System, acquiring 34,547 shares, marking a 1,018.5% boost in its holdings during the second quarter, totaling approximately $5.27 million.
• Landstar System's stock has recently seen varied analyst ratings, with Barclays and JPMorgan Chase lowering their price targets and ratings, while the consensus remains a "Hold" with a target price of $142.36.
• The company announced a quarterly dividend of $0.40, culminating in an annualized yield of 1.3% as of its last payment on September 9th.

Callan Family Office LLC boosted its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1,018.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,939 shares of the transportation company's stock after buying an additional 34,547 shares during the quarter. Callan Family Office LLC owned approximately 0.11% of Landstar System worth $5,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in Landstar System by 35.3% in the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after buying an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Landstar System by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock valued at $465,000 after buying an additional 85 shares during the last quarter. State of Michigan Retirement System increased its holdings in Landstar System by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company's stock valued at $1,272,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Landstar System by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company's stock valued at $1,487,000 after buying an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. increased its holdings in Landstar System by 3.8% in the first quarter. Securian Asset Management Inc. now owns 2,744 shares of the transportation company's stock valued at $412,000 after buying an additional 100 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LSTR shares. Robert W. Baird started coverage on Landstar System in a report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price objective for the company. Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a report on Saturday. Barclays lowered their target price on Landstar System from $145.00 to $135.00 and set an "equal weight" rating for the company in a report on Thursday, October 2nd. JPMorgan Chase & Co. lowered their target price on Landstar System from $147.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Stifel Nicolaus lowered their target price 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 issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $142.36.

Landstar System Stock Performance

Shares of LSTR stock opened at $124.13 on Friday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $196.86. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 26.02 and a beta of 0.82. The business has a 50 day simple moving average of $128.33 and a 200 day simple moving average of $135.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company posted $1.48 EPS. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

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

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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