Allworth Financial LP Grows Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Allworth Financial LP boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 58.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 344 shares of the transportation company’s stock after acquiring an additional 127 shares during the period. Allworth Financial LP’s holdings in Landstar System were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after purchasing an additional 521,695 shares in the last quarter. Norges Bank acquired a new stake in Landstar System during the 4th quarter valued at $54,088,000. Reinhart Partners LLC. acquired a new stake in Landstar System during the 1st quarter valued at $42,887,000. Lord Abbett & CO. LLC raised its holdings in shares of Landstar System by 116.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock worth $47,205,000 after acquiring an additional 147,756 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Landstar System by 28.9% in the fourth quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company’s stock worth $90,398,000 after acquiring an additional 117,961 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $136.27 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 26.98 and a beta of 0.88. The business has a 50-day moving average of $140.24 and a 200-day moving average of $149.06.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the company earned $1.32 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a dividend of $0.40 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.17%. Landstar System’s payout ratio is 31.68%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays began coverage on Landstar System in a research report on Monday, June 9th. They set an “equal weight” rating and a $145.00 price objective for the company. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Jefferies Financial Group reduced their price target on Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Evercore ISI lowered their price objective on Landstar System from $137.00 to $136.00 and set an “in-line” rating for the company in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $151.31.

Landstar System 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.