Raymond James Financial Inc. Increases Stock 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. grew its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,473 shares of the transportation company's stock after acquiring an additional 10,147 shares during the quarter. Raymond James Financial Inc. owned about 1.09% of Landstar System worth $57,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LSTR. Barclays PLC lifted its position in shares of Landstar System by 30.4% in the fourth quarter. Barclays PLC now owns 46,772 shares of the transportation company's stock valued at $8,039,000 after acquiring an additional 10,899 shares in the last quarter. Mariner LLC boosted its stake in Landstar System by 2.0% in the 4th quarter. Mariner LLC now owns 7,627 shares of the transportation company's stock worth $1,311,000 after buying an additional 151 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Landstar System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock worth $106,184,000 after buying an additional 9,190 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Landstar System by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 19,913 shares of the transportation company's stock worth $3,422,000 after buying an additional 1,587 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Landstar System by 107.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,638 shares of the transportation company's stock worth $282,000 after buying an additional 848 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on LSTR shares. 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. Susquehanna set a $123.00 price target on Landstar System and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Evercore ISI decreased their price target on Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a research note on Wednesday, July 30th. Barclays started coverage on Landstar System in a research note on Monday, June 9th. They issued an "equal weight" rating and a $145.00 price target on the stock. Finally, Wall Street Zen lowered Landstar System from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $145.17.

Landstar System Trading Down 0.3%

Shares of Landstar System stock traded down $0.39 during trading hours on Tuesday, reaching $132.54. The stock had a trading volume of 480,069 shares, compared to its average volume of 383,914. The firm has a 50 day simple moving average of $136.34 and a two-hundred day simple moving average of $141.89. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 27.79 and a beta of 0.86. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 1 year low of $123.43 and a 1 year high of $196.86.

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

Landstar System Announces Dividend

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

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.