Lazard Asset Management LLC Buys 9,227 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Lazard Asset Management LLC grew its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,039 shares of the transportation company's stock after purchasing an additional 9,227 shares during the quarter. Lazard Asset Management LLC owned approximately 0.08% of Landstar System worth $4,818,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. lifted its position in Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after acquiring an additional 90,391 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Landstar System by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company's stock worth $2,935,000 after purchasing an additional 3,150 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Landstar System by 14.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company's stock valued at $927,000 after purchasing an additional 665 shares during the period. Boston Trust Walden Corp boosted its stake in Landstar System by 21.1% during the 4th quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company's stock valued at $47,695,000 after purchasing an additional 48,312 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Landstar System by 11.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,935 shares of the transportation company's stock valued at $504,000 after buying an additional 300 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several research reports. Evercore ISI reduced their price objective on Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a research report on Wednesday, May 14th. TD Cowen decreased their price target 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. Jefferies Financial Group dropped their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Benchmark reiterated a "hold" rating on shares of Landstar System in a research note on Monday, April 14th. Finally, Stifel Nicolaus decreased their target price on Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $150.42.

Landstar System Price Performance

Shares of Landstar System stock traded down $0.88 during midday trading on Monday, hitting $144.21. 297,857 shares of the company were exchanged, compared to its average volume of 292,920. The firm has a 50 day simple moving average of $141.22 and a 200-day simple moving average of $162.00. 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 firm has a market cap of $5.04 billion, a P/E ratio of 26.13 and a beta of 0.92. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business posted $1.32 earnings per share. The firm's revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.11%. This is a positive change from Landstar System's previous quarterly dividend of $0.36. Landstar System's payout ratio is currently 31.68%.

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.