Arrowstreet Capital Limited Partnership Invests $7.44 Million in Landstar System, Inc. $LSTR

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 53,485 shares of the transportation company’s stock, valued at approximately $7,435,000. Arrowstreet Capital Limited Partnership owned 0.15% of Landstar System at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LSTR. Quantbot Technologies LP purchased a new stake in Landstar System in the 2nd quarter worth $2,577,000. M&T Bank Corp grew its position in shares of Landstar System by 10.0% during the second quarter. M&T Bank Corp now owns 4,567 shares of the transportation company’s stock worth $634,000 after purchasing an additional 416 shares in the last quarter. Brandes Investment Partners LP raised its stake in Landstar System by 55.4% during the 2nd quarter. Brandes Investment Partners LP now owns 3,611 shares of the transportation company’s stock valued at $502,000 after purchasing an additional 1,287 shares during the period. Ballast Asset Management LP lifted its holdings in Landstar System by 10.3% in the 2nd quarter. Ballast Asset Management LP now owns 26,965 shares of the transportation company’s stock worth $3,749,000 after purchasing an additional 2,526 shares in the last quarter. Finally, Claret Asset Management Corp purchased a new position in Landstar System in the 2nd quarter worth approximately $232,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LSTR shares. Truist Financial reduced their price objective on shares of Landstar System from $135.00 to $130.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. TD Cowen cut their target price on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Susquehanna decreased their price target on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Evercore ISI reduced their price target on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.50.

Landstar System Stock Performance

NASDAQ LSTR opened at $148.75 on Thursday. The business’s 50 day moving average price is $129.93 and its 200-day moving average price is $132.88. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $190.69. The company has a market cap of $5.11 billion, a P/E ratio of 37.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.01.

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

Landstar System Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be paid a dividend of $2.00 per share. This represents a dividend yield of 142.0%. The ex-dividend date of this dividend is Tuesday, January 6th. Landstar System’s dividend payout ratio (DPR) 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.