Raymond James Financial Inc. acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 371,327 shares of the transportation company's stock, valued at approximately $63,816,000. Raymond James Financial Inc. owned 1.05% of Landstar System at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its holdings in shares of Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company's stock worth $11,144,000 after buying an additional 12,931 shares in the last quarter. ING Groep NV purchased a new position in shares of Landstar System during the 3rd quarter worth about $1,228,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Landstar System by 419.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company's stock valued at $695,000 after buying an additional 2,973 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Landstar System by 3,775.2% during the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company's stock worth $63,243,000 after purchasing an additional 326,212 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company's stock valued at $30,639,000 after purchasing an additional 12,894 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.
Landstar System Price Performance
Shares of Landstar System stock traded up $1.39 during trading hours on Friday, reaching $150.41. 331,821 shares of the company's stock were exchanged, compared to its average volume of 259,965. The company has a market capitalization of $5.31 billion, a P/E ratio of 27.25 and a beta of 0.82. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 1 year low of $148.10 and a 1 year high of $196.86. The business has a fifty day moving average of $164.28 and a two-hundred day moving average of $176.22.
Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results 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%. As a group, research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.
Landstar System Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Tuesday, February 18th. Landstar System's payout ratio is 26.09%.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Landstar System from $164.00 to $169.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Raymond James cut shares of Landstar System from an "outperform" rating to a "market perform" rating in a research note on Friday, November 15th. Truist Financial started coverage on shares of Landstar System in a research note on Thursday. They set a "hold" rating and a $160.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Landstar System from $184.00 to $177.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Finally, Benchmark reiterated a "hold" rating on shares of Landstar System in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $169.45.
View Our Latest Analysis on LSTR
About Landstar System
(
Free Report)
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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