MQS Management LLC Takes Position in Landstar System, Inc. (NASDAQ:LSTR)

MQS Management LLC acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,848 shares of the transportation company’s stock, valued at approximately $341,000.

A number of other hedge funds have also modified their holdings of LSTR. Norges Bank acquired a new stake in Landstar System in the 4th quarter valued at $64,175,000. Victory Capital Management Inc. raised its holdings in Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after acquiring an additional 99,461 shares in the last quarter. UBS Group AG boosted its position in Landstar System by 359.9% during the fourth quarter. UBS Group AG now owns 80,077 shares of the transportation company’s stock valued at $15,507,000 after purchasing an additional 62,667 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Landstar System by 21.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 337,271 shares of the transportation company’s stock valued at $65,013,000 after purchasing an additional 59,530 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Landstar System by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after purchasing an additional 42,740 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Down 2.5 %

LSTR opened at $179.59 on Friday. The stock has a fifty day moving average of $185.19 and a 200-day moving average of $182.74. The company has a market capitalization of $6.42 billion, a P/E ratio of 27.63 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.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, equities analysts expect that Landstar System, Inc. will post 5.87 EPS for the current year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date of this dividend 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 0.80%. Landstar System’s payout ratio is currently 22.15%.

Wall Street Analyst Weigh In

LSTR has been the subject of several analyst reports. Raymond James decreased their target price on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Morgan Stanley cut their target price on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, Susquehanna raised their price objective 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Landstar System 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.