Landstar System (NASDAQ:LSTR) Shares Down 2.9%

Landstar System, Inc. (NASDAQ:LSTR) shares traded down 2.9% during trading on Wednesday . The stock traded as low as $167.66 and last traded at $169.07. 37,112 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 263,626 shares. The stock had previously closed at $174.13.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. 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. Wells Fargo & Company raised their price objective on Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. UBS Group raised their target price on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price on the stock in a research report on Wednesday, January 10th. Finally, Stifel Nicolaus decreased their target price on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus price target of $184.55.

Landstar System Stock Performance

The stock has a market cap of $6.02 billion, a PE ratio of 22.88, a P/E/G ratio of 4.65 and a beta of 0.83. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $188.10 and a 200 day moving average of $183.82.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.01). The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. Equities analysts predict that Landstar System, Inc. will post 6.71 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, February 9th. This represents a $1.32 annualized dividend and a yield of 0.78%. Landstar System’s dividend payout ratio (DPR) is 17.96%.

Insider Activity

In other news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the sale, the vice president now directly owns 61,127 shares of the company’s stock, valued at $11,632,468.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently modified their holdings of the company. Cardinal Capital Management grew its stake in Landstar System by 12.3% during the 1st quarter. Cardinal Capital Management now owns 19,367 shares of the transportation company’s stock worth $3,733,000 after purchasing an additional 2,126 shares in the last quarter. Bridge City Capital LLC lifted its holdings in Landstar System by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 16,936 shares of the transportation company’s stock worth $3,265,000 after buying an additional 131 shares during the last quarter. Mather Group LLC. purchased a new stake in Landstar System during the 1st quarter worth about $27,000. Vanguard Group Inc. lifted its holdings in Landstar System by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock worth $668,993,000 after buying an additional 27,026 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Landstar System by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,733 shares of the transportation company’s stock worth $60,755,000 after buying an additional 4,062 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

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.