Occudo Quantitative Strategies LP Invests $389,000 in Landstar System, Inc. (NASDAQ:LSTR)

Occudo Quantitative Strategies LP purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,264 shares of the transportation company’s stock, valued at approximately $389,000.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock worth $28,408,000 after acquiring an additional 90,391 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Landstar System by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock worth $2,935,000 after purchasing an additional 3,150 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Landstar System by 14.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company’s stock worth $927,000 after purchasing an additional 665 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Landstar System by 21.1% during the 4th quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company’s stock worth $47,695,000 after purchasing an additional 48,312 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Landstar System by 11.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,935 shares of the transportation company’s stock worth $504,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 1.5%

LSTR stock opened at $144.59 on Friday. The company’s 50 day moving average price is $141.36 and its 200 day moving average price is $162.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 26.19 and a beta of 0.92.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 5th. Landstar System’s dividend payout ratio is presently 26.09%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. 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 research report on Thursday, April 3rd. Truist Financial cut their price objective on Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Susquehanna cut their price objective on Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Stifel Nicolaus cut their price objective on Landstar System from $147.00 to $140.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, TD Cowen dropped their target price on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $153.08.

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.