Wealth Alliance decreased its holdings in Landstar System, Inc. (NASDAQ:LSTR – Free Report) by 9.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,445 shares of the transportation company’s stock after selling 148 shares during the period. Wealth Alliance’s holdings in Landstar System were worth $267,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its position in Landstar System by 2.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after acquiring an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Landstar System by 13.8% during the first quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock worth $115,000 after purchasing an additional 72 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Landstar System by 2.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock valued at $549,000 after purchasing an additional 74 shares during the period. Finally, Studio Investment Management LLC grew its holdings in Landstar System by 4.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,155 shares of the transportation company’s stock valued at $398,000 after buying an additional 84 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.
Landstar System Stock Performance
Shares of NASDAQ:LSTR opened at $179.59 on Friday. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 27.63 and a beta of 0.80. 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 company’s 50 day simple moving average is $185.19 and its 200 day simple moving average is $182.74.
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. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a yield of 0.80%. Landstar System’s payout ratio is presently 22.15%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. TD Cowen boosted their price objective on shares of Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Morgan Stanley dropped their price target on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Finally, Susquehanna increased their price target on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $179.73.
Get Our Latest Stock Analysis on Landstar System
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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