Proficio Capital Partners LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Free Report) 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 – Get Free Report) 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.
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