573 Shares in Landstar System, Inc. (NASDAQ:LSTR) Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 573 shares of the transportation company’s stock, valued at approximately $106,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after acquiring an additional 25,387 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Landstar System by 6.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after purchasing an additional 99,461 shares during the period. Boston Partners increased its position in shares of Landstar System by 1.0% during the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after purchasing an additional 15,424 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after purchasing an additional 37,020 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Landstar System by 2.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock valued at $82,755,000 after buying an additional 10,538 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James lowered their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Finally, TD Cowen raised their target price on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average price target of $179.73.

Landstar System Price Performance

LSTR stock opened at $186.06 on Wednesday. The business’s 50-day moving average is $185.20 and its two-hundred day moving average is $182.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market capitalization of $6.65 billion, a P/E ratio of 28.62 and a beta of 0.80. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. Analysts anticipate that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio is 22.15%.

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.