Landstar System (NASDAQ:LSTR) Hits New 52-Week High – Here’s What Happened

Landstar System, Inc. (NASDAQ:LSTR) reached a new 52-week high during trading on Friday . The stock traded as high as $175.25 and last traded at $175.1550, with a volume of 38497 shares trading hands. The stock had previously closed at $171.45.

Analyst Ratings Changes

Several research firms have recently commented on LSTR. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Thursday, January 29th. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Wells Fargo & Company raised Landstar System from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $170.00 in a research note on Tuesday, January 6th. Barclays lifted their target price on Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Finally, TD Cowen reissued a “hold” rating on shares of Landstar System in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $153.27.

Landstar System Trading Up 0.8%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business has a 50 day moving average of $156.53 and a 200 day moving average of $144.84. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 52.23 and a beta of 0.80.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Landstar System’s payout ratio is 48.34%.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently made changes to their positions in the stock. Vestmark Advisory Solutions Inc. grew its stake in shares of Landstar System by 0.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after purchasing an additional 78 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after purchasing an additional 78 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Landstar System by 1.4% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after purchasing an additional 89 shares during the period. Cardinal Capital Management lifted its holdings in Landstar System by 0.4% during the third quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock worth $2,981,000 after acquiring an additional 90 shares in the last quarter. Finally, Huntington National Bank grew its stake in Landstar System by 9.7% in the third quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 100 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

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.