Reinhart Partners LLC. Buys New Shares in Landstar System, Inc. (NASDAQ:LSTR)

Reinhart Partners LLC. bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 285,533 shares of the transportation company's stock, valued at approximately $42,887,000. Landstar System comprises 1.6% of Reinhart Partners LLC.'s investment portfolio, making the stock its 28th largest position. Reinhart Partners LLC. owned approximately 0.82% of Landstar System at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new stake in shares of Landstar System in the 4th quarter valued at approximately $25,000. HM Payson & Co. purchased a new stake in shares of Landstar System in the 4th quarter valued at approximately $26,000. Colonial Trust Co SC lifted its position in shares of Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after acquiring an additional 71 shares in the last quarter. BOKF NA lifted its position in shares of Landstar System by 56.1% in the 4th quarter. BOKF NA now owns 348 shares of the transportation company's stock valued at $58,000 after acquiring an additional 125 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Landstar System in the 4th quarter valued at approximately $60,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR opened at $140.09 on Friday. The company's fifty day moving average is $138.21 and its 200-day moving average is $157.53. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 25.38 and a beta of 0.88. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

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

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.40 per share. This is a positive change from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. Landstar System's dividend payout ratio is 31.68%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial reduced their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group dropped their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Benchmark reiterated a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $150.42.

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.

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