Brooklyn FI LLC Buys New Position in Landstar System, Inc. (NASDAQ:LSTR)

Brooklyn FI LLC bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,112 shares of the transportation company’s stock, valued at approximately $386,000.

A number of other large investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after purchasing an additional 521,695 shares during the period. Victory Capital Management Inc. boosted its position in shares of Landstar System by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock valued at $278,673,000 after purchasing an additional 11,146 shares during the period. Geode Capital Management LLC boosted its position in shares of Landstar System by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock valued at $140,602,000 after purchasing an additional 4,392 shares during the period. Northern Trust Corp boosted its position in shares of Landstar System by 15.6% in the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock valued at $115,624,000 after purchasing an additional 90,672 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company’s stock valued at $106,184,000 after purchasing an additional 9,190 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LSTR has been the subject of several analyst reports. Jefferies Financial Group reduced their price objective on Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus lowered their target price on Landstar System from $147.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, May 14th. 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 research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat, Landstar System has an average rating of “Hold” and a consensus target price of $150.42.

Landstar System Stock Performance

Shares of LSTR stock opened at $137.01 on Tuesday. The stock has a fifty day moving average price of $140.05 and a 200 day moving average price of $160.12. The stock has a market cap of $4.79 billion, a PE ratio of 24.82 and a beta of 0.92. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. 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 (NASDAQ:LSTR) last released 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). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. Sell-side analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal 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 given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s payout ratio is currently 31.68%.

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.