Choreo LLC Buys New Shares in Landstar System, Inc. (NASDAQ:LSTR)

Choreo LLC purchased a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,137 shares of the transportation company’s stock, valued at approximately $392,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Landstar System during the 1st quarter worth about $27,000. Quest Partners LLC bought a new stake in shares of Landstar System in the 2nd quarter valued at about $73,000. Fidelis Capital Partners LLC bought a new position in Landstar System during the first quarter worth about $86,000. Finally, GAMMA Investing LLC increased its position in Landstar System by 58.1% during the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

NASDAQ:LSTR opened at $183.67 on Tuesday. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 28.26 and a beta of 0.80. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $201.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17. The stock has a fifty day moving average price of $184.73 and a 200-day moving average price of $182.78.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data 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. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.85 earnings per share. As a group, equities analysts anticipate that Landstar System, Inc. will post 5.87 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 20th. This is a boost from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 0.78%. Landstar System’s dividend payout ratio is presently 22.15%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LSTR. Evercore ISI lifted their target price on Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Morgan Stanley dropped their price objective on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. TD Cowen raised their price objective on shares of Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Susquehanna upped their target price on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $179.73.

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.