Nomura Holdings Inc. Makes New Investment in Landstar System, Inc. (NASDAQ:LSTR)

Nomura Holdings Inc. bought a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,688 shares of the transportation company's stock, valued at approximately $806,000.

A number of other large investors have also added to or reduced their stakes in LSTR. Kayne Anderson Rudnick Investment Management LLC grew its position in Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after purchasing an additional 521,695 shares during the period. Raymond James Financial Inc. bought a new stake in Landstar System in the 4th quarter worth approximately $63,816,000. Norges Bank bought a new stake in Landstar System in the 4th quarter worth approximately $54,088,000. Corient Private Wealth LLC grew its position in Landstar System by 1,207.3% in the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after purchasing an additional 271,417 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Landstar System by 116.4% in 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 during the period. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Down 0.6%

LSTR opened at $144.21 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The firm's fifty day moving average is $141.09 and its 200 day moving average is $161.77. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 26.13 and a beta of 0.92.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the firm posted $1.32 EPS. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.11%. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System's payout ratio is 31.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Susquehanna cut their target price on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Stifel Nicolaus dropped their price target on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th. Truist Financial dropped 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 note on Thursday, April 24th. Evercore ISI dropped their price target on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 14th. Finally, UBS Group set a $154.00 price target on shares of Landstar System in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $150.42.

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.

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