Callan Family Office LLC Purchases Shares of 1,129 Landstar System, Inc. (NASDAQ:LSTR)

Callan Family Office LLC acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,129 shares of the transportation company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Landstar System by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after acquiring an additional 25,387 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Landstar System by 6.2% during the 2nd 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 during the period. Boston Partners lifted its holdings in shares of Landstar System by 1.0% during the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after acquiring an additional 15,424 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after acquiring an additional 37,020 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Landstar System by 2.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock worth $82,755,000 after acquiring an additional 10,538 shares during the period. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Susquehanna lifted their price target on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Evercore ISI cut their price target on shares of Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price target 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. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus price target of $179.00.

Landstar System Stock Up 1.6 %

Shares of NASDAQ:LSTR opened at $186.02 on Wednesday. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40. The company has a 50 day moving average of $184.43 and a 200-day moving average of $182.64. 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 stock has a market cap of $6.65 billion, a price-to-earnings ratio of 28.62 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company earned $1.85 EPS. Landstar System’s revenue was down 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. This is a boost from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is currently 22.15%.

Landstar System Company 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.