GAMMA Investing LLC Boosts Stake in Landstar System, Inc. $LSTR

GAMMA Investing LLC increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 109.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 939 shares of the transportation company’s stock after purchasing an additional 491 shares during the period. GAMMA Investing LLC’s holdings in Landstar System were worth $131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in Landstar System by 3.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,014 shares of the transportation company’s stock valued at $518,000 after acquiring an additional 94 shares during the last quarter. Versant Capital Management Inc raised its stake in Landstar System by 151.0% during the 1st quarter. Versant Capital Management Inc now owns 517 shares of the transportation company’s stock valued at $78,000 after acquiring an additional 311 shares during the last quarter. Reinhart Partners LLC. purchased a new stake in Landstar System during the 1st quarter valued at approximately $42,887,000. Impact Capital Partners LLC raised its stake in Landstar System by 9.0% during the 1st quarter. Impact Capital Partners LLC now owns 4,510 shares of the transportation company’s stock valued at $677,000 after acquiring an additional 372 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Landstar System by 22.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 18,471 shares of the transportation company’s stock valued at $2,774,000 after acquiring an additional 3,339 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on LSTR. Barclays began coverage on Landstar System in a research note on Monday, June 9th. They set an “equal weight” rating and a $145.00 price objective for the company. Baird R W raised Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. TD Cowen reduced their price objective on Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. cut their target price on Landstar System from $139.00 to $138.00 and set a “neutral” rating for the company in a research note on Tuesday, July 8th. Finally, Robert W. Baird began coverage on Landstar System in a research note on Tuesday, July 1st. They set an “outperform” rating and a $166.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $144.58.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $122.56 on Wednesday. The business’s fifty day moving average price is $130.30 and its two-hundred day moving average price is $136.77. The stock has a market cap of $4.25 billion, a PE ratio of 25.69 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System, Inc. has a one year low of $119.32 and a one year high of $196.86.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.Landstar System’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 EPS. On average, analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

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

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.