Reinhart Partners LLC. Makes New $42.89 Million Investment in Landstar System, Inc. (NASDAQ:LSTR)

Reinhart Partners LLC. acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 285,533 shares of the transportation company's stock, valued at approximately $42,887,000. Landstar System comprises approximately 1.6% of Reinhart Partners LLC.'s portfolio, making the stock its 28th biggest holding. Reinhart Partners LLC. owned approximately 0.82% of Landstar System as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in LSTR. Golden State Wealth Management LLC bought a new position in shares of Landstar System during the fourth quarter worth about $25,000. HM Payson & Co. acquired a new stake in Landstar System during the fourth quarter worth approximately $26,000. Colonial Trust Co SC grew its stake in Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after purchasing an additional 71 shares during the period. BOKF NA grew its stake in Landstar System by 56.1% during the fourth quarter. BOKF NA now owns 348 shares of the transportation company's stock worth $58,000 after purchasing an additional 125 shares during the period. Finally, Transce3nd LLC acquired a new stake in Landstar System during the fourth quarter worth approximately $60,000. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LSTR shares. JPMorgan Chase & Co. decreased their target price on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barclays began coverage on shares of Landstar System in a research note on Monday. They issued an "equal weight" rating and a $145.00 price target for the company. TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Truist Financial decreased 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 note on Thursday, April 24th. Finally, Jefferies Financial Group decreased their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $150.00.

Landstar System Stock Up 2.3%

Shares of NASDAQ:LSTR traded up $3.18 during mid-day trading on Tuesday, hitting $143.40. 365,436 shares of the company traded hands, compared to its average volume of 300,775. The stock has a market cap of $5.01 billion, a P/E ratio of 25.98 and a beta of 0.88. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The stock has a 50-day moving average price of $138.07 and a two-hundred day moving average price of $156.84.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The firm's quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. On average, equities research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.12%. Landstar System's payout ratio is 31.68%.

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.