Raymond James & Associates Acquires 4,345 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Raymond James & Associates increased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,764 shares of the transportation company’s stock after acquiring an additional 4,345 shares during the quarter. Raymond James & Associates’ holdings in Landstar System were worth $28,475,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Landstar System by 64.4% during the 3rd quarter. Blue Trust Inc. now owns 1,774 shares of the transportation company’s stock worth $327,000 after purchasing an additional 695 shares in the last quarter. Cardinal Capital Management increased its stake in Landstar System by 8.3% during the 3rd quarter. Cardinal Capital Management now owns 21,534 shares of the transportation company’s stock worth $4,067,000 after acquiring an additional 1,655 shares during the period. nVerses Capital LLC acquired a new position in Landstar System in the 3rd quarter valued at $378,000. Roberts Wealth Advisors LLC lifted its position in shares of Landstar System by 3.8% during the 3rd quarter. Roberts Wealth Advisors LLC now owns 4,556 shares of the transportation company’s stock valued at $848,000 after acquiring an additional 167 shares during the period. Finally, Wesbanco Bank Inc. grew its holdings in shares of Landstar System by 9.5% during the 3rd quarter. Wesbanco Bank Inc. now owns 2,888 shares of the transportation company’s stock worth $545,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Stifel Nicolaus reduced their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group reduced their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $177.25.

Landstar System Stock Performance

Landstar System stock opened at $180.03 on Thursday. The business has a 50 day moving average of $184.17 and a 200-day moving average of $182.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40. The company has a market capitalization of $6.44 billion, a P/E ratio of 27.70 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 5.85 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were given a dividend of $0.36 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is currently 22.15%.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.