O Shaughnessy Asset Management LLC boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,167 shares of the transportation company’s stock after acquiring an additional 242 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Landstar System were worth $816,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in LSTR. Van ECK Associates Corp acquired a new stake in Landstar System during the 1st quarter worth about $41,000. Fifth Third Bancorp lifted its position in Landstar System by 100.0% in the 1st quarter. Fifth Third Bancorp now owns 268 shares of the transportation company’s stock worth $44,000 after buying an additional 134 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Landstar System in the 2nd quarter worth approximately $46,000. Bessemer Group Inc. lifted its position in Landstar System by 25.2% in the 1st quarter. Bessemer Group Inc. now owns 298 shares of the transportation company’s stock worth $50,000 after buying an additional 60 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in Landstar System by 166.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 325 shares of the transportation company’s stock worth $53,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.
Shares of LSTR opened at $159.42 on Wednesday. The company has a 50-day simple moving average of $159.61 and a 200-day simple moving average of $164.16. The firm has a market capitalization of $6.10 billion, a P/E ratio of 20.65, a P/E/G ratio of 1.49 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.71 and a current ratio of 1.71. Landstar System, Inc. has a 52 week low of $120.92 and a 52 week high of $182.63.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Monday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 6th. This is a boost from Landstar System’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.63%. Landstar System’s payout ratio is currently 18.90%.
LSTR has been the topic of several research reports. Morgan Stanley upped their target price on Landstar System from $113.00 to $119.00 and gave the stock an “underweight” rating in a research report on Monday, July 26th. Credit Suisse Group dropped their target price on Landstar System from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Friday, July 23rd. Robert W. Baird reissued a “hold” rating on shares of Landstar System in a research report on Thursday, August 19th. Oppenheimer reissued a “hold” rating on shares of Landstar System in a research report on Tuesday, June 1st. Finally, Evercore ISI initiated coverage on Landstar System in a research report on Monday. They issued an “inline” rating and a $171.00 price target for the company. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $155.00.
Landstar System Profile
Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.
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