Van ECK Associates Corp Acquires 6,680 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Van ECK Associates Corp increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,836 shares of the transportation company’s stock after buying an additional 6,680 shares during the period. Van ECK Associates Corp owned about 0.09% of Landstar System worth $5,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Landstar System during the fourth quarter valued at about $25,000. Trust Co. of Vermont purchased a new stake in Landstar System in the fourth quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. grew its position in Landstar System by 431.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Landstar System by 27.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after buying an additional 158 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Landstar System by 11.5% in the 3rd quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock valued at $175,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 0.5 %

LSTR stock opened at $162.67 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. Landstar System, Inc. has a 12 month low of $157.99 and a 12 month high of $196.86. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 29.47 and a beta of 0.83. The company has a fifty day moving average price of $171.72 and a 200 day moving average price of $179.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Sell-side analysts expect that Landstar System, Inc. will post 6.2 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 0.89%. Landstar System’s dividend payout ratio (DPR) is 26.09%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LSTR. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Susquehanna decreased their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Stephens cut their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average price target of $170.40.

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.