First Trust Advisors LP Has $118.18 Million Stock Position in Landstar System, Inc. $LSTR

First Trust Advisors LP increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 31.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 964,297 shares of the transportation company’s stock after buying an additional 232,682 shares during the quarter. First Trust Advisors LP owned 2.81% of Landstar System worth $118,184,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Peterson Wealth Services boosted its holdings in shares of Landstar System by 1,108.4% in the 3rd quarter. Peterson Wealth Services now owns 10,960 shares of the transportation company’s stock worth $1,343,000 after acquiring an additional 10,053 shares in the last quarter. Alps Advisors Inc. increased its holdings in Landstar System by 69.8% during the 3rd quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company’s stock valued at $11,626,000 after purchasing an additional 38,992 shares in the last quarter. Ballast Asset Management LP increased its holdings in Landstar System by 28.2% during the 3rd quarter. Ballast Asset Management LP now owns 34,579 shares of the transportation company’s stock valued at $4,238,000 after purchasing an additional 7,614 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new position in Landstar System in the 2nd quarter valued at $2,339,000. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Landstar System by 198.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 4,749 shares of the transportation company’s stock worth $660,000 after purchasing an additional 3,157 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LSTR has been the topic of several research analyst reports. Susquehanna upped their price target on Landstar System from $110.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Barclays upped their target price on shares of Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Stifel Nicolaus raised their target price on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. Finally, Zacks Research upgraded shares of Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One investment 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $153.00.

Landstar System Trading Down 4.8%

NASDAQ:LSTR opened at $151.82 on Monday. The business has a 50 day moving average price of $153.04 and a two-hundred day moving average price of $138.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $5.17 billion, a P/E ratio of 45.87 and a beta of 0.81. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $166.11.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th will be given 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 yield of 1.1%. Landstar System’s dividend payout ratio is 48.34%.

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.