Alps Advisors Inc. Boosts Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Alps Advisors Inc. lifted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,267 shares of the transportation company's stock after buying an additional 4,026 shares during the quarter. Alps Advisors Inc. owned approximately 0.16% of Landstar System worth $8,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in Landstar System in the first quarter worth $25,000. Colonial Trust Co SC grew its holdings in shares of Landstar System by 61.7% in the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after purchasing an additional 71 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after buying an additional 154 shares during the period. First Horizon Advisors Inc. lifted its holdings in Landstar System by 35.3% during the 1st 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 in the last quarter. Finally, Allworth Financial LP boosted its position in Landstar System by 58.5% in the 1st quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock valued at $48,000 after buying an additional 127 shares during the period. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Down 1.7%

Shares of NASDAQ LSTR traded down $2.47 during trading hours on Friday, hitting $143.26. 363,872 shares of the stock were exchanged, compared to its average volume of 306,254. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The firm has a fifty day moving average price of $139.98 and a 200-day moving average price of $150.33. 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 company has a market cap of $5.01 billion, a PE ratio of 28.37 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $1.32 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were given a $0.40 dividend. This is a positive change from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, June 5th. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen lowered their price target on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Wall Street Zen raised Landstar System from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Baird R W upgraded Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Robert W. Baird began 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. Finally, Jefferies Financial Group cut their target price on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $151.31.

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.