Proficio Capital Partners LLC Purchases New Shares in Landstar System, Inc. (NASDAQ:LSTR)

Proficio Capital Partners LLC acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 49,244 shares of the transportation company's stock, valued at approximately $8,463,000. Proficio Capital Partners LLC owned about 0.14% of Landstar System at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LSTR. GSA Capital Partners LLP bought a new position in Landstar System during the 3rd quarter worth approximately $453,000. Huntington National Bank boosted its position in shares of Landstar System by 11.5% during the third quarter. Huntington National Bank now owns 924 shares of the transportation company's stock worth $175,000 after purchasing an additional 95 shares in the last quarter. KBC Group NV grew its holdings in shares of Landstar System by 14.8% in the 3rd quarter. KBC Group NV now owns 1,006 shares of the transportation company's stock valued at $190,000 after buying an additional 130 shares during the period. ING Groep NV bought a new stake in shares of Landstar System in the 3rd quarter valued at $1,228,000. Finally, OneDigital Investment Advisors LLC raised its stake in Landstar System by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company's stock worth $883,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LSTR. Benchmark reissued a "hold" rating on shares of Landstar System in a research note on Friday, January 31st. Stifel Nicolaus increased their target price on Landstar System from $164.00 to $169.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Truist Financial assumed coverage on shares of Landstar System in a research note on Thursday, March 13th. They issued a "hold" rating and a $160.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Landstar System from $184.00 to $177.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $169.45.

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Landstar System Stock Down 1.9 %

Shares of Landstar System stock traded down $2.80 during trading hours on Wednesday, reaching $146.79. 284,991 shares of the company's stock were exchanged, compared to its average volume of 258,283. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $163.05 and a two-hundred day moving average of $175.44. The stock has a market cap of $5.18 billion, a P/E ratio of 26.59 and a beta of 0.82. Landstar System, Inc. has a fifty-two week low of $144.79 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. On average, sell-side analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, February 18th. Landstar System's payout ratio is currently 26.09%.

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.