Janney Montgomery Scott LLC Grows Stock Holdings in Landstar System, Inc. $LSTR

Janney Montgomery Scott LLC increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 44.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,841 shares of the transportation company’s stock after purchasing an additional 1,480 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Landstar System were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LSTR. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Landstar System by 8.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock valued at $613,372,000 after acquiring an additional 319,101 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Landstar System by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company’s stock valued at $248,567,000 after purchasing an additional 33,399 shares in the last quarter. Northern Trust Corp boosted its position in shares of Landstar System by 9.1% during the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock valued at $110,285,000 after purchasing an additional 61,477 shares in the last quarter. Invesco Ltd. boosted its position in shares of Landstar System by 1.9% during the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company’s stock valued at $69,446,000 after purchasing an additional 8,623 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of Landstar System by 49.2% in the second quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company’s stock worth $59,229,000 after buying an additional 140,500 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Trading Down 0.5%

NASDAQ LSTR opened at $126.42 on Thursday. The company has a market cap of $4.38 billion, a PE ratio of 26.50 and a beta of 0.82. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $196.86. The stock has a 50 day moving average of $128.09 and a 200-day moving average of $135.05.

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

Landstar System Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on LSTR shares. Evercore ISI reduced their price target on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating for the company in a research report on Tuesday, September 30th. TD Cowen dropped their price target on shares of Landstar System from $141.00 to $135.00 and set a “hold” rating on the stock in a research report on Wednesday, July 30th. Stifel Nicolaus decreased their price target on shares of Landstar System from $131.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, October 3rd. Barclays reduced their target price on shares of Landstar System from $145.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Finally, Robert W. Baird initiated coverage on shares of Landstar System in a research report on Tuesday, July 1st. They set an “outperform” rating and a $166.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $142.36.

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.