Lazard Asset Management LLC Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

Lazard Asset Management LLC raised its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 49.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 0.08% of Landstar System worth $4,818,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Trust Co. of Vermont acquired a new stake in shares of Landstar System in the fourth quarter worth $34,000. Roberts Wealth Advisors LLC increased its stake in shares of Landstar System by 1.3% in the fourth quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company's stock worth $818,000 after acquiring an additional 60 shares during the period. Genesis Private Wealth LLC acquired a new stake in shares of Landstar System in the fourth quarter worth $277,000. Nisa Investment Advisors LLC increased its stake in shares of Landstar System by 22.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company's stock worth $2,935,000 after acquiring an additional 3,150 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in shares of Landstar System by 34.7% in the fourth quarter. Wesbanco Bank Inc. now owns 3,890 shares of the transportation company's stock worth $669,000 after acquiring an additional 1,002 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Price Performance

LSTR traded down $1.96 during midday trading on Wednesday, hitting $140.97. 41,504 shares of the company traded hands, compared to its average volume of 292,606. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 25.53 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. The business has a 50 day simple moving average of $140.97 and a two-hundred day simple moving average of $161.64.

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 the consensus estimate of $0.92 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 earnings per share. On average, equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.13%. This is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 5th. Landstar System's dividend payout ratio (DPR) is presently 31.68%.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of research reports. TD Cowen cut their price objective on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus cut 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 note on Wednesday, May 14th. UBS Group set a $154.00 price target on shares of Landstar System in a research report on Wednesday, May 14th. Benchmark restated a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. Finally, Jefferies Financial Group dropped their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. According to data from MarketBeat, Landstar System currently has an average rating of "Hold" and a consensus price target of $150.42.

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.