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

Wedge Capital Management L L P NC boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 22.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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.

A number of other large investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in Landstar System in the fourth quarter worth $25,000. HM Payson & Co. purchased a new stake in shares of Landstar System during the 4th quarter valued at about $26,000. Colonial Trust Co SC raised its position in shares of Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after buying an additional 71 shares in the last quarter. BOKF NA lifted its holdings in shares of 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 acquiring an additional 125 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in Landstar System during the fourth quarter worth approximately $60,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Down 2.7%

NASDAQ:LSTR traded down $3.86 during trading hours on Wednesday, reaching $139.54. The company's stock had a trading volume of 309,916 shares, compared to its average volume of 301,194. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The company has a market capitalization of $4.88 billion, a P/E ratio of 25.28 and a beta of 0.89. The stock has a 50 day moving average price of $138.13 and a two-hundred day moving average price of $156.72. 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 issued its quarterly earnings data 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 company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Landstar System's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 EPS. Equities analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.15%. 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 payout ratio is 31.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group set a $154.00 target price on Landstar System in a report on Wednesday, May 14th. Susquehanna reduced their target price 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. Evercore ISI lowered their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a report on Wednesday, May 14th. Stifel Nicolaus reduced their price objective 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. Finally, TD Cowen dropped their target price on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, Landstar System has a consensus rating of "Hold" and an average target price of $150.00.

Landstar System Company 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.