AXQ Capital LP Buys Shares of 2,021 Landstar System, Inc. $LSTR

AXQ Capital LP bought a new position in Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,021 shares of the transportation company’s stock, valued at approximately $281,000.

A number of other institutional investors have also modified their holdings of the company. Eukles Asset Management raised its stake in shares of Landstar System by 1.1% during the 2nd quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock worth $1,398,000 after acquiring an additional 105 shares in the last quarter. MAI Capital Management grew its holdings in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after purchasing an additional 107 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Landstar System by 5.1% during the first quarter. Burgundy Asset Management Ltd. now owns 2,703 shares of the transportation company’s stock worth $406,000 after purchasing an additional 130 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Landstar System by 118.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after purchasing an additional 152 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Cowen reduced their target price on Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Landstar System from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Stifel Nicolaus lowered their target price on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Landstar System in a research report on Wednesday, November 19th. Finally, Barclays decreased their price target on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $134.60.

Landstar System Price Performance

NASDAQ:LSTR opened at $127.17 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00. The company has a 50 day moving average price of $126.59 and a 200-day moving average price of $133.14. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $190.69. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 32.44 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. Equities research analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 18th. Landstar System’s payout ratio is currently 40.82%.

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.