Raymond James Financial Inc. Has $57.30 Million Holdings in Landstar System, Inc. $LSTR

Key Points

• Raymond James Financial Inc. increased its holdings in Landstar System, Inc. by 2.7%, now owning 381,473 shares valued at approximately $57.3 million.
• The company has declared a quarterly dividend of $0.40 per share, representing an annualized dividend yield of 1.2%.
• Wall Street analysts have mixed ratings for the stock, with a consensus rating of "Hold" and an average price target of $145.17.

Raymond James Financial Inc. raised its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 381,473 shares of the transportation company's stock after buying an additional 10,147 shares during the quarter. Raymond James Financial Inc. owned 1.09% of Landstar System worth $57,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in Landstar System during the first quarter worth $25,000. Colonial Trust Co SC lifted its position in shares of Landstar System by 61.7% during 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 last quarter. Golden State Wealth Management LLC lifted its holdings in Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock worth $45,000 after purchasing an additional 154 shares in the last quarter. 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 worth $48,000 after purchasing an additional 84 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Landstar System by 58.5% during the 1st quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock worth $48,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of recent research reports. Baird R W raised Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Evercore ISI dropped their price objective on Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Wall Street Zen cut Landstar System from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Robert W. Baird initiated coverage on Landstar System in a report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price target on the stock. Finally, UBS Group lowered their price target on Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $145.17.

Landstar System Price Performance

LSTR opened at $129.03 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System, Inc. has a 52-week low of $123.43 and a 52-week high of $196.86. The stock has a market capitalization of $4.47 billion, a PE ratio of 27.05 and a beta of 0.86. The stock's 50 day moving average price is $136.79 and its 200-day moving average price is $142.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The firm's revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

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

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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