Victory Capital Management Inc. Grows Stake in Landstar System, Inc. (NASDAQ:LSTR)

Victory Capital Management Inc. boosted its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,654,910 shares of the transportation company's stock after purchasing an additional 33,399 shares during the quarter. Victory Capital Management Inc. owned approximately 4.74% of Landstar System worth $248,567,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LSTR. Apollon Wealth Management LLC lifted its stake in Landstar System by 10.3% during the 1st quarter. Apollon Wealth Management LLC now owns 3,969 shares of the transportation company's stock valued at $596,000 after acquiring an additional 369 shares during the period. Signaturefd LLC raised its stake in Landstar System by 57.2% during the 1st quarter. Signaturefd LLC now owns 1,393 shares of the transportation company's stock worth $209,000 after acquiring an additional 507 shares during the period. Securian Asset Management Inc. lifted its stake in shares of Landstar System by 3.8% during the 1st quarter. Securian Asset Management Inc. now owns 2,744 shares of the transportation company's stock valued at $412,000 after buying an additional 100 shares in the last quarter. MQS Management LLC purchased a new position in shares of Landstar System in the first quarter valued at about $452,000. Finally, LRI Investments LLC bought a new position in Landstar System in the 1st quarter worth approximately $66,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

Shares of LSTR stock traded up $1.90 during mid-day trading on Thursday, hitting $137.06. 271,070 shares of the stock were exchanged, compared to its average volume of 306,826. The stock's fifty day simple moving average is $140.22 and its two-hundred day simple moving average is $149.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 27.10 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. On average, analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were given a $0.40 dividend. This is an increase from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, June 5th. Landstar System's dividend payout ratio is currently 31.68%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Baird R W upgraded Landstar System to a "strong-buy" rating in a report on Tuesday, July 1st. Evercore ISI decreased their price objective on shares of 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. Stifel Nicolaus lowered their target price on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. Robert W. Baird initiated coverage on Landstar System in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price objective on the stock. Finally, TD Cowen cut their target price on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $151.31.

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.