573 Shares in Landstar System, Inc. (NASDAQ:LSTR) Bought by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 573 shares of the transportation company’s stock, valued at approximately $106,000.

A number of other institutional investors have also added to or reduced their stakes in LSTR. Vanguard Group Inc. boosted its position in Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares during the period. Quantbot Technologies LP boosted its position in Landstar System by 415.1% during the first quarter. Quantbot Technologies LP now owns 5,223 shares of the transportation company’s stock worth $1,007,000 after purchasing an additional 4,209 shares during the period. Van ECK Associates Corp boosted its position in Landstar System by 36.5% during the first quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock worth $3,118,000 after purchasing an additional 4,327 shares during the period. Sei Investments Co. boosted its position in Landstar System by 17.9% during the first quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock worth $13,926,000 after purchasing an additional 10,978 shares during the period. Finally, Tidal Investments LLC boosted its position in Landstar System by 125.4% during the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock worth $2,467,000 after purchasing an additional 7,118 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

NASDAQ LSTR opened at $186.93 on Friday. The firm’s 50 day simple moving average is $185.05 and its 200 day simple moving average is $182.69. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 28.76 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company posted $1.85 EPS. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, research analysts expect that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.36 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a yield of 0.77%. Landstar System’s payout ratio is presently 22.15%.

Wall Street Analyst Weigh In

LSTR has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Stifel Nicolaus reduced their target price on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Susquehanna boosted their target price on shares of Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $179.73.

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.