Vaughan Nelson Investment Management L.P. Purchases 11,370 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 277,741 shares of the transportation company's stock after buying an additional 11,370 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.77% of Landstar System worth $53,784,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Landstar System by 0.8% during the 1st quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company's stock valued at $616,286,000 after buying an additional 31,476 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,273,485 shares of the transportation company's stock valued at $586,805,000 after buying an additional 25,366 shares during the period. Morgan Stanley raised its holdings in shares of Landstar System by 756.6% during the 4th quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company's stock valued at $496,178,000 after buying an additional 2,690,326 shares during the period. State Street Corp raised its holdings in shares of Landstar System by 4.1% during the 1st quarter. State Street Corp now owns 1,179,816 shares of the transportation company's stock valued at $177,952,000 after buying an additional 46,997 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Landstar System by 0.8% during the 1st quarter. JPMorgan Chase & Co. now owns 778,972 shares of the transportation company's stock valued at $139,638,000 after buying an additional 5,821 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of the business's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the transaction, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LSTR shares. UBS Group raised their target price on Landstar System from $175.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 2nd. Wolfe Research upgraded Landstar System from a "peer perform" rating to an "outperform" rating and set a $205.00 price objective on the stock in a report on Wednesday, January 10th. JPMorgan Chase & Co. began coverage on Landstar System in a report on Monday, December 11th. They set a "neutral" rating and a $186.00 price objective on the stock. Susquehanna dropped their price objective on Landstar System from $170.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday, March 25th. Finally, Wells Fargo & Company lifted their price objective on Landstar System from $165.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, February 2nd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Landstar System has an average rating of "Hold" and a consensus price target of $184.55.

Landstar System Stock Performance

Shares of LSTR traded down $0.04 during mid-day trading on Friday, hitting $187.97. The stock had a trading volume of 255,617 shares, compared to its average volume of 244,378. The company has a market cap of $6.72 billion, a PE ratio of 25.57 and a beta of 0.83. The company's fifty day simple moving average is $189.57 and its two-hundred day simple moving average is $183.81. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $208.62.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Wednesday, January 31st. The transportation company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.25 billion. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. On average, equities analysts expect that Landstar System, Inc. will post 6.82 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $1.32 dividend on an annualized basis and a yield of 0.70%. Landstar System's dividend payout ratio is currently 17.96%.

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.