Occudo Quantitative Strategies LP Acquires New Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Occudo Quantitative Strategies LP purchased a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,264 shares of the transportation company's stock, valued at approximately $389,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Landstar System during the fourth quarter valued at $25,000. HM Payson & Co. purchased a new position in Landstar System in the 4th quarter worth about $26,000. Colonial Trust Co SC lifted its stake in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after acquiring an additional 71 shares during the period. Trust Co. of Vermont bought a new position in Landstar System during the 4th quarter valued at about $34,000. Finally, BOKF NA boosted its holdings in shares of Landstar System by 56.1% during the 4th quarter. BOKF NA now owns 348 shares of the transportation company's stock valued at $58,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Trading Down 0.6%

Shares of LSTR traded down $0.88 during trading hours on Monday, reaching $144.21. 297,857 shares of the company traded hands, compared to its average volume of 292,920. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 26.13 and a beta of 0.92. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. 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 stock's fifty day moving average price is $141.09 and its 200 day moving average price is $161.77.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate 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 prior year, the firm posted $1.32 EPS. The business's revenue was down 1.6% on a year-over-year basis. Sell-side 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. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 5th. This is an increase from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.11%. Landstar System's dividend payout ratio (DPR) is currently 31.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LSTR. TD Cowen lowered 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 report on Thursday, April 3rd. UBS Group set a $154.00 target price on shares of Landstar System in a research note on Wednesday, May 14th. Evercore ISI dropped their price target on Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Truist Financial lowered their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and an average target price of $150.42.

Landstar System Company Profile

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.