SG Americas Securities LLC Invests $948,000 in Landstar System, Inc. (NASDAQ:LSTR)

SG Americas Securities LLC bought a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,313 shares of the transportation company's stock, valued at approximately $948,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Colonial Trust Co SC boosted its holdings in Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Landstar System by 3.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,014 shares of the transportation company's stock worth $518,000 after buying an additional 94 shares during the period. Huntington National Bank lifted its position in shares of Landstar System by 12.2% during the 4th quarter. Huntington National Bank now owns 1,037 shares of the transportation company's stock worth $178,000 after buying an additional 113 shares during the period. BOKF NA boosted its stake in 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 buying an additional 125 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Landstar System by 6.9% in the fourth quarter. Bessemer Group Inc. now owns 2,213 shares of the transportation company's stock valued at $380,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LSTR. JPMorgan Chase & Co. cut their price objective on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Jefferies Financial Group dropped their target price on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their price target on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Susquehanna decreased their price objective on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Truist Financial cut their target price 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. Two research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $150.00.

Landstar System Trading Down 0.2%

LSTR stock traded down $0.33 during trading on Friday, hitting $136.81. The company had a trading volume of 506,199 shares, compared to its average volume of 302,701. The firm has a 50-day moving average price of $138.25 and a 200-day moving average price of $154.16. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 27.09 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The company's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 EPS. As a group, analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is 31.68%.

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.