Landstar System (NASDAQ:LSTR) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Landstar shares crossed above their 200-day moving average of $144.14, trading as high as $169.05 and last at $166.51 on a volume of 296,534 shares.
• Several brokerages raised ratings and targets recently (e.g., Wells Fargo to Overweight with a $170 target; JPMorgan to $162), but the consensus remains a Hold with an average price target of $153.27.
• The company paid a quarterly dividend of $0.40 (annualized $1.60) for a 1.0% yield and ~48% payout ratio, while institutional investors own about 97.95% of outstanding shares with multiple large recent purchases.

Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $144.14 and traded as high as $169.05. Landstar System shares last traded at $166.51, with a volume of 296,534 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LSTR. Wall Street Zen raised shares of Landstar System from a "sell" rating to a "hold" rating in a research report on Saturday, December 27th. JPMorgan Chase & Co. increased their price objective on Landstar System from $134.00 to $162.00 and gave the company a "neutral" rating in a report on Monday, January 12th. Wells Fargo & Company upgraded shares of Landstar System from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $145.00 to $170.00 in a research report on Tuesday, January 6th. Stifel Nicolaus lifted their target price on shares of Landstar System from $145.00 to $147.00 and gave the company a "hold" rating in a report on Thursday, April 2nd. Finally, Evercore increased their price target on shares of Landstar System from $125.00 to $151.00 and gave the stock an "in-line" rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System currently has an average rating of "Hold" and a consensus price target of $153.27.

Landstar System Stock Down 1.8%

The business has a 50-day simple moving average of $156.11 and a two-hundred day simple moving average of $144.14. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 50.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 18th. Landstar System's dividend payout ratio is 48.34%.

Institutional Investors Weigh In On Landstar System

Several large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its stake in shares of Landstar System by 623.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,114 shares of the transportation company's stock worth $160,000 after purchasing an additional 960 shares during the last quarter. River Road Asset Management LLC purchased a new stake in shares of Landstar System during the fourth quarter worth approximately $18,082,000. Virtu Financial LLC purchased a new stake in shares of Landstar System during the fourth quarter worth approximately $351,000. Corient Private Wealth LLC raised its stake in shares of Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company's stock worth $105,877,000 after purchasing an additional 370,253 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in shares of Landstar System during the fourth quarter worth approximately $1,552,000. Hedge funds and other institutional investors own 97.95% of the company's stock.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar's proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

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