Thurston Springer Miller Herd & Titak Inc. Purchases 152 Shares of Landstar System, Inc. $LSTR

Thurston Springer Miller Herd & Titak Inc. increased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 118.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280 shares of the transportation company’s stock after acquiring an additional 152 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Landstar System were worth $39,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock worth $613,372,000 after acquiring an additional 319,101 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Landstar System by 2.1% during the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company’s stock valued at $248,567,000 after buying an additional 33,399 shares during the last quarter. Northern Trust Corp grew its stake in shares of Landstar System by 9.1% during the first quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock valued at $110,285,000 after buying an additional 61,477 shares during the last quarter. Invesco Ltd. grew its stake in Landstar System by 1.9% in the first quarter. Invesco Ltd. now owns 462,357 shares of the transportation company’s stock worth $69,446,000 after purchasing an additional 8,623 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in Landstar System by 2.7% in the first quarter. Raymond James Financial Inc. now owns 381,473 shares of the transportation company’s stock worth $57,297,000 after purchasing an additional 10,147 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of analyst reports. Evercore ISI lowered their target price on Landstar System from $135.00 to $132.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Susquehanna set a $123.00 price objective on Landstar System and gave the company a “neutral” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Baird R W upgraded Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, Stifel Nicolaus reduced their target price on Landstar System from $140.00 to $131.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average price target of $145.17.

Landstar System Trading Up 0.9%

Shares of Landstar System stock opened at $126.73 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $132.79 and its 200 day moving average price is $138.70. Landstar System, Inc. has a twelve month low of $123.43 and a twelve month high of $196.86. The firm has a market capitalization of $4.39 billion, a PE ratio of 26.57 and a beta of 0.84.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $1.48 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System’s dividend payout ratio (DPR) is 33.54%.

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.