Tyche Wealth Partners LLC acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,498 shares of the transportation company’s stock, valued at approximately $290,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LSTR. Larson Financial Group LLC purchased a new stake in Landstar System during the 3rd quarter worth about $49,000. First Capital Advisors Group LLC. purchased a new stake in Landstar System during the 2nd quarter worth about $59,000. Belpointe Asset Management LLC increased its position in Landstar System by 150.7% during the 1st quarter. Belpointe Asset Management LLC now owns 356 shares of the transportation company’s stock worth $64,000 after purchasing an additional 214 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Landstar System by 126.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 565 shares of the transportation company’s stock valued at $100,000 after buying an additional 315 shares during the period. Finally, Impact Partnership Wealth LLC purchased a new stake in Landstar System in the 3rd quarter valued at about $108,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.
Analyst Upgrades and Downgrades
LSTR has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. UBS Group upped their price objective on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a research note on Wednesday, January 10th. Stifel Nicolaus dropped their target price on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. Finally, Susquehanna dropped their target price on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, March 25th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $184.55.
Landstar System Stock Down 3.5 %
NASDAQ LSTR opened at $168.03 on Thursday. The stock has a market cap of $6.01 billion, a PE ratio of 22.86, a P/E/G ratio of 4.59 and a beta of 0.83. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $208.62. The business has a 50 day moving average price of $187.71 and a two-hundred day moving average price of $183.80. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04.
Landstar System (NASDAQ:LSTR – Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.01). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. As a group, sell-side analysts predict that Landstar System, Inc. will post 6.71 EPS for the current fiscal year.
Landstar System Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 12th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, February 9th. Landstar System’s dividend payout ratio is presently 17.96%.
Insider Activity
In other news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the transaction, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
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.
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