Clarkston Capital Partners LLC Lowers Stock Position in Landstar System, Inc. $LSTR

Clarkston Capital Partners LLC cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,175 shares of the transportation company’s stock after selling 7,600 shares during the quarter. Clarkston Capital Partners LLC owned approximately 0.55% of Landstar System worth $23,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LSTR. MAI Capital Management boosted its position in shares of 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 period. UMB Bank n.a. raised its position in shares of Landstar System by 335.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 225 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Landstar System by 126.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 315 shares of the transportation company’s stock valued at $44,000 after buying an additional 176 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Landstar System in the 3rd quarter worth $47,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 4.8%

Shares of LSTR opened at $151.82 on Monday. The company’s fifty day moving average is $153.04 and its 200 day moving average is $138.61. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $166.11. The stock has a market capitalization of $5.17 billion, a PE ratio of 45.87 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Landstar System’s payout ratio is 48.34%.

Analysts Set New Price Targets

LSTR has been the subject of a number of analyst reports. Weiss Ratings upgraded Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Stifel Nicolaus upped their price objective on Landstar System from $140.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. increased their target price on Landstar System from $134.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Morgan Stanley boosted their price target on Landstar System from $133.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $153.00.

Landstar System 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.