Bessemer Group Inc. Raises Stock Holdings in Landstar System, Inc. $LSTR

Bessemer Group Inc. increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 18.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,593 shares of the transportation company’s stock after purchasing an additional 399 shares during the period. Bessemer Group Inc.’s holdings in Landstar System were worth $360,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Landstar System by 8.5% in the 1st 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. increased its stake in shares of Landstar System by 2.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company’s stock worth $248,567,000 after acquiring an additional 33,399 shares in the last quarter. Northern Trust Corp increased its stake in shares of Landstar System by 9.1% in the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock worth $110,285,000 after acquiring an additional 61,477 shares in the last quarter. Invesco Ltd. increased its stake in shares of Landstar System by 1.9% in the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company’s stock worth $69,446,000 after acquiring an additional 8,623 shares in the last quarter. Finally, Reinhart Partners LLC. increased its stake in shares of Landstar System by 49.2% in the 2nd quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company’s stock worth $59,229,000 after acquiring an additional 140,500 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

LSTR opened at $128.43 on Monday. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 32.76 and a beta of 0.82. The company’s 50 day moving average is $128.10 and its 200 day moving average is $134.12. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business posted $1.41 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.60 annualized dividend and a yield of 1.2%. Landstar System’s payout ratio is currently 40.82%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LSTR. Truist Financial decreased their price target on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Zacks Research downgraded shares of Landstar System from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Susquehanna cut their price objective on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group cut their price objective on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Evercore ISI lowered their price target on Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $134.60.

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.