Landstar System, Inc. $LSTR Stake Lifted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 29.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,883 shares of the transportation company’s stock after purchasing an additional 6,756 shares during the period. Wedge Capital Management L L P NC’s holdings in Landstar System were worth $3,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MAI Capital Management raised its stake in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after buying an additional 107 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Landstar System by 118.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 152 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Landstar System by 7,650.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 310 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 306 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Landstar System by 126.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 315 shares of the transportation company’s stock worth $44,000 after purchasing an additional 176 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen cut their target price on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Landstar System in a report on Monday, December 8th. Stifel Nicolaus increased their price objective on Landstar System from $127.00 to $140.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. decreased their target price on Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Finally, Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System has an average rating of “Hold” and an average target price of $136.58.

Landstar System Trading Up 0.4%

NASDAQ:LSTR opened at $145.37 on Tuesday. The stock has a market cap of $4.99 billion, a PE ratio of 37.08 and a beta of 0.85. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $179.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.01. The stock’s 50-day moving average is $133.27 and its two-hundred day moving average is $133.25.

Landstar System (NASDAQ:LSTR) last posted 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 return on equity of 17.24% and a net margin of 2.87%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the company earned $1.41 earnings per share. Landstar System’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be issued a dividend of $2.00 per share. This represents a dividend yield of 142.0%. The ex-dividend date is Tuesday, January 6th. Landstar System’s dividend payout ratio (DPR) is currently 40.82%.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.