Bridges Investment Management Inc. Makes New $318,000 Investment in Landstar System, Inc. (NASDAQ:LSTR)

Bridges Investment Management Inc. acquired a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,724 shares of the transportation company’s stock, valued at approximately $318,000.

Several other large investors have also recently bought and sold shares of LSTR. Massmutual Trust Co. FSB ADV raised its position in Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. Mather Group LLC. purchased a new position in Landstar System in the first quarter worth $27,000. Quest Partners LLC purchased a new position in Landstar System in the second quarter worth $73,000. Fidelis Capital Partners LLC purchased a new position in Landstar System in the first quarter worth $86,000. Finally, GAMMA Investing LLC raised its position in Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

LSTR has been the subject of several research analyst reports. Susquehanna increased their price objective on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen raised their price target on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Raymond James dropped their price target on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Wolfe Research cut Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, Benchmark restated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $179.73.

Landstar System Trading Down 2.5 %

Landstar System stock opened at $179.59 on Monday. The stock has a market cap of $6.42 billion, a PE ratio of 27.63 and a beta of 0.80. The stock has a 50-day moving average price of $185.19 and a 200 day moving average price of $182.72. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $201.40. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results 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. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.85 EPS. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. Equities research analysts predict that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.36 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is presently 22.15%.

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.