Prospera Financial Services Inc. acquired a new stake in the shares of Landstar System, Inc. (NASDAQ: LSTR – Get Rating) during the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). ). The institutional investor acquired 351 shares of the transportation company, valued at approximately $53,000.
A number of other hedge funds and other institutional investors have also recently increased or reduced their stakes in the stock. Hussman Strategic Advisors Inc. increased its position in Landstar System by 200.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 7,800 shares of the transportation company valued at $1,176,000 after purchasing an additional 5,200 shares during the period. Benjamin F. Edwards & Company Inc. increased its ownership of Landstar System shares by 124.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 260 shares of the transportation company worth $39,000 after acquiring 144 more shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Landstar System shares by 1.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 98,120 shares of the transportation company worth $14,799,000 after acquiring 1,056 additional shares in the last quarter. Vaughan Nelson Investment Management LP increased its equity stake in Landstar System by 14.4% during the first quarter. Vaughan Nelson Investment Management LP now owns 247,675 shares of the transportation company worth $37,357,000 after acquiring 31,215 additional shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Landstar System shares by 5.5% during the 1st quarter. New Jersey State Joint Pension Fund D now owns 21,154 shares of the transportation company worth $3,191,000 after acquiring 1,103 more shares in the last quarter. Institutional investors hold 98.56% of the company’s shares.
Landstar System Stock Performance
NASDAQ LSTR shares opened at $154.84 on Tuesday. The company has a debt ratio of 0.09, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $5.64 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.09 and a beta of 0.92. The company’s fifty-day moving average is $147.96 and its two-hundred-day moving average is $151.39. Landstar System, Inc. has a 52-week low of $137.15 and a 52-week high of $188.63.
Landstar System (NASDAQ:LSTR – Get Rating) last reported its quarterly results on Wednesday, July 20. The transportation company reported earnings per share (EPS) of $3.05 for the quarter, missing analyst consensus estimates of $3.25 per ($0.20). The company posted revenue of $1.98 billion in the quarter, versus a consensus estimate of $2.02 billion. Landstar System had a net margin of 5.89% and a return on equity of 51.73%. The company’s revenue increased 25.7% year over year. In the same quarter a year earlier, the company posted earnings per share of $2.40. As a group, analysts expect Landstar System, Inc. to post EPS of 11.73 for the current fiscal year.
Landstar system increases dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26. Shareholders of record on Monday, August 8 will receive a dividend of $0.30. The ex-dividend date is Friday August 5th. This is an increase from Landstar System’s previous quarterly dividend of $0.25. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 0.77%. Landstar System’s payout ratio is 8.36%.
Analysts set new price targets
Several brokerages have recently weighed in on LSTR. Wells Fargo & Company lowered its price target on shares of Landstar System from $165.00 to $147.00 and set an “equal weight” rating on the stock in a Friday, July 15 research note. Cowen lowered his price target on Landstar System shares to $157.00 in a Friday, July 22 research note. Evercore ISI lowered its price target on Landstar System shares from $173.00 to $161.00 and issued an “in-line” rating on the stock in a Tuesday, July 12 research note. StockNews.com upgraded Landstar System shares from a “hold” rating to a “buy” rating in a research note on Monday, August 1. Finally, Susquehanna Bancshares lowered its price target on Landstar System shares from $155.00 to $153.00 and set a “neutral” rating on the stock in a Friday, July 22 research note. One analyst gave the stock a sell rating, nine gave the company a hold rating and one gave the company a buy rating. Based on MarketBeat data, Landstar System currently has an average rating of “Hold” and a consensus target price of $162.08.
Landstar system profile
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Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico and internationally. The Company operates through two segments: transportation logistics and insurance. The Transportation Logistics segment offers a range of transportation services, including truck and truck transportation, rail intermodal, air freight, ocean freight, expedited ground and air delivery of urgent cargo, transportation heavy/specialty, the United States and Canada. and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project freight, and customs brokerage, as well as transportation services to other transportation companies, such as third-party logistics service providers, small parcels and LTL services.
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