Landstar System (NASDAQ:LSTR) Now Covered by Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Landstar System (NASDAQ:LSTR - Free Report) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $166.00 price objective on the transportation company's stock.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their price objective 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. TD Cowen lowered their price target on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Wall Street Zen raised Landstar System from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Truist Financial decreased their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, Barclays assumed coverage on Landstar System in a report on Monday, June 9th. They issued an "equal weight" rating and a $145.00 target price for the company. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $151.50.

Landstar System Trading Down 0.3%

Shares of LSTR traded down $0.50 during mid-day trading on Tuesday, reaching $146.06. 178,677 shares of the company's stock traded hands, compared to its average volume of 303,637. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03. The stock's 50-day moving average is $139.09 and its two-hundred day moving average is $151.40. Landstar System has a 12 month low of $128.99 and a 12 month high of $196.86. The stock has a market cap of $5.10 billion, a P/E ratio of 28.92 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $1.32 EPS. The business's revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that Landstar System will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. This is a positive change from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. Landstar System's dividend payout ratio is presently 31.68%.

Institutional Trading of Landstar System

A number of institutional investors have recently modified their holdings of LSTR. Kayne Anderson Rudnick Investment Management LLC lifted its position in Landstar System by 8.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock valued at $613,372,000 after acquiring an additional 319,101 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Landstar System by 2.1% during the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company's stock worth $248,567,000 after purchasing an additional 33,399 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Landstar System by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock worth $140,602,000 after purchasing an additional 4,392 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Landstar System by 9.1% during the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock valued at $110,285,000 after purchasing an additional 61,477 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock worth $106,184,000 after purchasing an additional 9,190 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

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.