Perbak Capital Partners LLP Invests $371,000 in Landstar System, Inc. $LSTR

Key Points

• Perbak Capital Partners LLP has acquired 2,469 shares of Landstar System, Inc. valued at approximately $371,000 during the first quarter.
• Analysts generally rate Landstar System with an average of "Hold" and a target price of $145.17, with one brokerage upgrading it to a "strong-buy" rating.
• Landstar System recently declared a quarterly dividend of $0.40, representing a 1.2% yield, with the ex-dividend date set for August 19th.

Perbak Capital Partners LLP bought a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,469 shares of the transportation company's stock, valued at approximately $371,000.

Other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 8.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock valued at $613,372,000 after buying an additional 319,101 shares in the last quarter. Reinhart Partners LLC. purchased a new position in shares of Landstar System during the 1st quarter valued at about $42,887,000. Nuveen LLC purchased a new position in shares of Landstar System during the 1st quarter valued at about $34,540,000. Ameriprise Financial Inc. raised its holdings in shares of Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock valued at $28,408,000 after buying an additional 90,391 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Landstar System by 13,120.0% during the 1st quarter. GAMMA Investing LLC now owns 67,290 shares of the transportation company's stock valued at $10,107,000 after buying an additional 66,781 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Trading Down 1.7%

Landstar System stock traded down $2.28 during trading hours on Friday, reaching $132.08. The company had a trading volume of 519,149 shares, compared to its average volume of 340,809. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 27.69 and a beta of 0.84. Landstar System, Inc. has a 12-month low of $123.43 and a 12-month high of $196.86. The company has a 50-day moving average price of $135.41 and a 200 day moving average price of $140.19. 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 for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.48 EPS. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Landstar System's payout ratio is currently 33.54%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LSTR shares. Wall Street Zen cut Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. decreased their price target on Landstar System from $139.00 to $138.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. TD Cowen decreased their price target on Landstar System from $141.00 to $135.00 and set a "hold" rating on the stock in a research note on Wednesday, July 30th. Stifel Nicolaus decreased their price target on Landstar System from $140.00 to $131.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Finally, UBS Group decreased their price target on Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Landstar System presently has a consensus rating of "Hold" and a consensus target price of $145.17.

Landstar System 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.