FORA Capital LLC Acquires 2,474 Shares of Landstar System, Inc. $LSTR

FORA Capital LLC raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 159.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,029 shares of the transportation company’s stock after purchasing an additional 2,474 shares during the quarter. FORA Capital LLC’s holdings in Landstar System were worth $605,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Landstar System in the 1st quarter valued at $25,000. Colonial Trust Co SC raised its position in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 71 shares during the last quarter. Golden State Wealth Management LLC raised its position in Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 154 shares during the last quarter. Brooklyn Investment Group raised its position in Landstar System by 352.2% in the 1st quarter. Brooklyn Investment Group now owns 312 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 243 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Landstar System by 35.3% in the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company’s stock valued at $48,000 after buying an additional 84 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 0.4%

NASDAQ:LSTR opened at $133.08 on Thursday. Landstar System, Inc. has a 1 year low of $123.43 and a 1 year high of $196.86. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 27.90 and a beta of 0.86. The stock has a 50-day moving average price of $136.25 and a two-hundred day moving average price of $141.83.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Landstar System’s payout ratio is presently 33.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LSTR shares. Evercore ISI lowered their target price on Landstar System from $135.00 to $132.00 and set an “in-line” rating for the company in a research note on Wednesday, July 30th. Baird R W raised Landstar System to a “strong-buy” rating in a research note on Tuesday, July 1st. Robert W. Baird started coverage on Landstar System in a research note on Tuesday, July 1st. They issued an “outperform” rating and a $166.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Landstar System from $139.00 to $138.00 and set a “neutral” rating for the company in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus decreased their price objective on Landstar System from $140.00 to $131.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $145.17.

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.