Rhumbline Advisers Has $13.87 Million Position in Landstar System, Inc. $LSTR

Rhumbline Advisers boosted its position in Landstar System, Inc. (NASDAQ:LSTR) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,195 shares of the transportation company’s stock after purchasing an additional 10,367 shares during the quarter. Rhumbline Advisers owned about 0.33% of Landstar System worth $13,873,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC grew its stake in shares of Landstar System by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after acquiring an additional 336 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 purchasing an additional 50,142 shares in the last quarter. Empowered Funds LLC grew 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 worth $704,000 after purchasing an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Landstar System by 13.3% during 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 worth $21,380,000 after purchasing an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Landstar System by 132.7% in the first 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. Institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. TD Cowen reissued a “hold” rating on shares of Landstar System in a report on Friday, January 9th. Morgan Stanley raised their price target on Landstar System from $133.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Weiss Ratings downgraded Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 12th. Finally, Robert W. Baird set a $164.00 price objective on shares of Landstar System in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $153.00.

Landstar System Stock Performance

Landstar System stock opened at $147.33 on Thursday. The company has a quick ratio of 2.01, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $5.06 billion, a PE ratio of 44.51 and a beta of 0.85. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $165.25. The business’s 50-day moving average price is $149.35 and its two-hundred day moving average price is $136.40.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Landstar System’s dividend payout ratio (DPR) is 48.34%.

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.