Victory Capital Management Inc. Buys 33,399 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Victory Capital Management Inc. increased its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,654,910 shares of the transportation company's stock after buying an additional 33,399 shares during the quarter. Victory Capital Management Inc. owned about 4.74% of Landstar System worth $248,567,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LSTR. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Landstar System by 14.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the transportation company's stock valued at $1,572,000 after buying an additional 1,157 shares during the period. HighTower Advisors LLC grew its position in Landstar System by 4.5% during the fourth quarter. HighTower Advisors LLC now owns 12,343 shares of the transportation company's stock valued at $2,121,000 after buying an additional 537 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Landstar System by 18.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,247 shares of the transportation company's stock valued at $730,000 after buying an additional 652 shares during the period. Corient Private Wealth LLC grew its position in Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock valued at $50,509,000 after buying an additional 271,417 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Landstar System by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 336,773 shares of the transportation company's stock valued at $57,878,000 after buying an additional 1,920 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LSTR shares. Robert W. Baird started coverage on Landstar System in a research note on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price objective for the company. Evercore ISI cut their price objective on Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a research note on Wednesday, May 14th. Benchmark reiterated a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. TD Cowen dropped their price target on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group set a $154.00 price target on Landstar System in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and a consensus price target of $151.31.

Landstar System Trading Down 0.2%

NASDAQ:LSTR traded down $0.23 during midday trading on Friday, hitting $136.27. 720,998 shares of the company traded hands, compared to its average volume of 309,313. The firm's fifty day moving average is $140.24 and its 200-day moving average is $148.90. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The firm has a market capitalization of $4.76 billion, a P/E ratio of 26.98 and a beta of 0.88. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07.

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). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the business earned $1.32 EPS. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. This is a positive change from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is currently 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.