Spectrum Asset Management Inc. NB CA Takes Position in Landstar System, Inc. (NASDAQ:LSTR)

Spectrum Asset Management Inc. NB CA purchased a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,865 shares of the transportation company's stock, valued at approximately $664,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Trust Co. of Vermont bought a new position in Landstar System during the 4th quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock valued at $83,000 after buying an additional 358 shares during the period. GAMMA Investing LLC raised its holdings in shares of Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company's stock valued at $107,000 after acquiring an additional 70 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Landstar System by 27.9% during the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company's stock valued at $137,000 after acquiring an additional 158 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Landstar System by 11.5% in the third quarter. Huntington National Bank now owns 924 shares of the transportation company's stock worth $175,000 after acquiring an additional 95 shares during the period. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Up 0.2 %

NASDAQ:LSTR traded up $0.39 on Monday, reaching $159.80. 100,408 shares of the stock traded hands, compared to its average volume of 314,592. The company's fifty day simple moving average is $174.63 and its 200 day simple moving average is $181.16. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 28.98 and a beta of 0.83. Landstar System, Inc. has a 12 month low of $158.78 and a 12 month high of $196.86. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

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 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%. Equities analysts predict that Landstar System, Inc. will post 6.2 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Tuesday, February 18th. Landstar System's payout ratio is presently 26.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LSTR. Stephens decreased their price objective on shares of Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a report on Wednesday, October 30th. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a research note on Friday, January 31st. UBS Group increased their price objective on Landstar System from $184.00 to $186.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Evercore ISI dropped their target price on shares of Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a report on Wednesday, October 30th. Finally, TD Cowen decreased their price target on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, Landstar System currently has a consensus rating of "Hold" and an average price target of $170.40.

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.