Wedge Capital Management L L P NC Raises Stake in Landstar System, Inc. (NASDAQ:LSTR)

Wedge Capital Management L L P NC grew its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 22.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,471 shares of the transportation company's stock after purchasing an additional 3,339 shares during the quarter. Wedge Capital Management L L P NC owned about 0.05% of Landstar System worth $2,774,000 at the end of the most recent quarter.

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

Landstar System Stock Performance

Shares of LSTR traded down $2.72 on Friday, reaching $137.62. The company's stock had a trading volume of 254,618 shares, compared to its average volume of 301,799. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The stock has a market capitalization of $4.81 billion, a P/E ratio of 24.93 and a beta of 0.89. The stock's 50 day simple moving average is $138.25 and its two-hundred day simple moving average is $156.41. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86.

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

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be issued a $0.40 dividend. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.16%. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Analysts Set New Price Targets

Several research analysts recently issued reports on LSTR shares. 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. Susquehanna reduced their price objective on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Benchmark restated a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. Evercore ISI reduced 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. Finally, Truist Financial reduced their price objective 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 issued a hold rating to the stock. According to data from MarketBeat, Landstar System has a consensus rating of "Hold" and an average target price of $150.00.

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.