Farther Finance Advisors LLC Grows Stake in Landstar System, Inc. (NASDAQ:LSTR)

Farther Finance Advisors LLC raised its stake in Landstar System, Inc. (NASDAQ:LSTR) by 42.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,884 shares of the transportation company’s stock after acquiring an additional 566 shares during the period. Farther Finance Advisors LLC’s holdings in Landstar System were worth $283,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Landstar System by 16.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after purchasing an additional 521,695 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Landstar System during the fourth quarter valued at $63,816,000. Norges Bank bought a new position in shares of Landstar System during the fourth quarter valued at $54,088,000. Reinhart Partners LLC. bought a new position in shares of Landstar System during the first quarter valued at $42,887,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock valued at $50,509,000 after purchasing an additional 271,417 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Down 1.6%

NASDAQ LSTR opened at $136.79 on Wednesday. The stock’s 50-day moving average price is $138.43 and its 200-day moving average price is $155.19. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week high of $196.86. The company has a market capitalization of $4.78 billion, a P/E ratio of 27.09 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business earned $1.32 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. This is a boost from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s dividend payout ratio (DPR) is currently 31.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Monday, April 14th. UBS Group set a $154.00 target price on Landstar System in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Finally, Truist Financial lowered their target price on Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $150.00.

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.