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MQS Management LLC Invests $452,000 in Landstar System, Inc. (NASDAQ:LSTR)

Landstar System logo with Transportation background

MQS Management LLC bought a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,012 shares of the transportation company's stock, valued at approximately $452,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alpine Bank Wealth Management purchased a new stake in shares of Landstar System in the 1st quarter valued at $25,000. Colonial Trust Co SC raised its holdings in shares of Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after buying an additional 71 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after buying an additional 154 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Landstar System by 35.3% in 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 during the period. Finally, Allworth Financial LP raised its holdings in shares of 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. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Susquehanna reiterated a "neutral" rating and issued a $125.00 price objective (up previously from $120.00) on shares of Landstar System in a report on Tuesday, June 24th. UBS Group set a $154.00 price objective on Landstar System in a report on Wednesday, May 14th. TD Cowen cut their price target on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Wall Street Zen downgraded Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Baird R W upgraded Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Landstar System has a consensus rating of "Hold" and a consensus target price of $151.31.

Get Our Latest Stock Analysis on LSTR

Landstar System Stock Up 1.0%

Shares of LSTR traded up $1.34 during mid-day trading on Thursday, reaching $136.50. The company's stock had a trading volume of 469,651 shares, compared to its average volume of 307,409. The stock has a market cap of $4.77 billion, a PE ratio of 27.03 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The company's 50 day moving average is $140.23 and its 200 day moving average is $149.30.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its 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 net margin of 3.72% and a return on equity of 18.23%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $1.32 earnings per share. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. Landstar System's dividend payout ratio is 31.68%.

Landstar System Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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