Bessemer Group Inc. Grows Position in Landstar System, Inc. $LSTR

Bessemer Group Inc. raised its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 18.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,593 shares of the transportation company’s stock after purchasing an additional 399 shares during the quarter. Bessemer Group Inc.’s holdings in Landstar System were worth $360,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Landstar System by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company’s stock valued at $465,000 after purchasing an additional 85 shares in the last quarter. KBC Group NV raised its stake in Landstar System by 22.3% during the first quarter. KBC Group NV now owns 1,733 shares of the transportation company’s stock valued at $260,000 after purchasing an additional 316 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Principal Financial Group Inc. raised its stake in Landstar System by 0.3% during the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock valued at $12,203,000 after purchasing an additional 213 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Landstar System by 9.0% during the first quarter. D.A. Davidson & CO. now owns 3,702 shares of the transportation company’s stock valued at $556,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Landstar System in a research note on Wednesday, October 8th. Susquehanna decreased their price target on Landstar System from $121.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI cut their price target on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, TD Cowen cut their price target on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $134.60.

Landstar System Trading Up 2.5%

Shares of NASDAQ:LSTR opened at $128.43 on Monday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $196.86. The business’s fifty day simple moving average is $128.10 and its 200-day simple moving average is $134.12. The company has a market capitalization of $4.41 billion, a PE ratio of 32.76 and a beta of 0.82. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 18th. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

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.