Oppenheimer Asset Management Inc. Acquires Shares of 5,432 Landstar System, Inc. (NASDAQ:LSTR)

Oppenheimer Asset Management Inc. purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,432 shares of the transportation company's stock, valued at approximately $816,000.

A number of other institutional investors have also recently modified their holdings of LSTR. Roberts Wealth Advisors LLC boosted its position in shares of Landstar System by 2.9% in the 1st quarter. Roberts Wealth Advisors LLC now owns 4,750 shares of the transportation company's stock worth $713,000 after buying an additional 134 shares in the last quarter. Blue Trust Inc. raised its position in Landstar System by 12.6% during the first quarter. Blue Trust Inc. now owns 1,108 shares of the transportation company's stock worth $166,000 after acquiring an additional 124 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Landstar System by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 6,135 shares of the transportation company's stock valued at $921,000 after purchasing an additional 105 shares in the last quarter. Cardinal Capital Management grew its position in shares of Landstar System by 6.6% in the first quarter. Cardinal Capital Management now owns 23,759 shares of the transportation company's stock valued at $3,569,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Landstar System during the 1st quarter worth approximately $505,000. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Trading Up 0.5%

Landstar System stock traded up $0.68 during midday trading on Wednesday, reaching $145.94. The stock had a trading volume of 145,801 shares, compared to its average volume of 302,559. The stock's 50-day simple moving average is $138.58 and its 200 day simple moving average is $151.93. Landstar System, Inc. has a twelve month low of $128.99 and a twelve month high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market capitalization of $5.10 billion, a PE ratio of 29.00 and a beta of 0.88.

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

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were given a $0.40 dividend. The ex-dividend date was Thursday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. This is a positive change from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio is presently 31.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their target price on Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th. Robert W. Baird began coverage on Landstar System in a research note on Tuesday. They set an "outperform" rating and a $166.00 price objective on the stock. TD Cowen dropped their price objective on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Evercore ISI reduced their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday, May 14th. Finally, Barclays assumed coverage on shares of Landstar System in a research note on Monday, June 9th. They set an "equal weight" rating and a $145.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Landstar System presently has a consensus rating of "Hold" and a consensus price target of $151.50.

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.