Proficio Capital Partners LLC Acquires New Shares in Landstar System, Inc. (NASDAQ:LSTR)

Proficio Capital Partners LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 49,244 shares of the transportation company’s stock, valued at approximately $8,463,000. Proficio Capital Partners LLC owned about 0.14% of Landstar System at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in Landstar System in the third quarter worth about $453,000. Huntington National Bank boosted its position in Landstar System by 11.5% in the third quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock worth $175,000 after purchasing an additional 95 shares during the last quarter. KBC Group NV boosted its position in Landstar System by 14.8% in the third quarter. KBC Group NV now owns 1,006 shares of the transportation company’s stock worth $190,000 after purchasing an additional 130 shares during the last quarter. ING Groep NV purchased a new position in Landstar System in the third quarter worth about $1,228,000. Finally, OneDigital Investment Advisors LLC boosted its position in Landstar System by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company’s stock worth $883,000 after purchasing an additional 68 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Truist Financial began coverage on Landstar System in a research note on Thursday. They issued a “hold” rating and a $160.00 price objective on the stock. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. Finally, Stifel Nicolaus raised their price objective on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $169.45.

Landstar System Stock Up 0.9 %

Shares of LSTR opened at $150.41 on Friday. The business’s 50 day moving average is $163.83 and its 200 day moving average is $175.94. The company has a market capitalization of $5.31 billion, a PE ratio of 27.25 and a beta of 0.82. Landstar System, Inc. has a 12-month low of $147.59 and a 12-month high of $196.86. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last issued its earnings results 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%. Research analysts expect 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 was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s dividend payout ratio is presently 26.09%.

Landstar System 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.