Alps Advisors Inc. Purchases 38,992 Shares of Landstar System, Inc. $LSTR

Alps Advisors Inc. increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 69.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,863 shares of the transportation company’s stock after purchasing an additional 38,992 shares during the period. Alps Advisors Inc. owned about 0.28% of Landstar System worth $11,626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LSTR. Integrated Wealth Concepts LLC increased its holdings in Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after buying an additional 336 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Landstar System by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after acquiring an additional 50,142 shares during the period. Empowered Funds LLC boosted its position in shares of Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Landstar System by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after acquiring an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Landstar System by 132.7% in 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. 97.95% of the stock is owned by institutional investors.

Landstar System Price Performance

Shares of LSTR stock opened at $162.08 on Monday. The stock’s fifty day moving average is $147.88 and its 200-day moving average is $135.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.01 and a current ratio of 1.75. The stock has a market capitalization of $5.57 billion, a PE ratio of 48.97 and a beta of 0.85. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $164.35.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. Landstar System’s payout ratio is currently 48.34%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LSTR. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Thursday, January 29th. Robert W. Baird set a $164.00 price objective on Landstar System in a research note on Friday, January 30th. Wells Fargo & Company upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $145.00 to $170.00 in a research note on Tuesday, January 6th. Finally, Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $153.00.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.