Jensen Investment Management Inc. Buys Shares of 6,250 Landstar System, Inc. $LSTR

Jensen Investment Management Inc. purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,250 shares of the transportation company’s stock, valued at approximately $766,000.

A number of other large investors also recently modified their holdings of LSTR. Norges Bank acquired a new stake in Landstar System in the second quarter worth about $40,190,000. Fenimore Asset Management Inc raised its position in shares of Landstar System by 231.3% during the 3rd quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock worth $41,809,000 after buying an additional 238,173 shares in the last quarter. Clarkston Capital Partners LLC bought a new stake in shares of Landstar System during the 2nd quarter worth about $27,217,000. Boston Partners lifted its stake in shares of Landstar System by 14.2% in the 2nd quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock worth $197,310,000 after acquiring an additional 176,601 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Landstar System by 80.1% in the second quarter. Qube Research & Technologies Ltd now owns 358,754 shares of the transportation company’s stock valued at $49,874,000 after acquiring an additional 159,541 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Up 0.8%

Shares of NASDAQ LSTR opened at $162.41 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $164.35. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 49.07 and a beta of 0.85. The business has a fifty day simple moving average of $149.03 and a 200-day simple moving average of $135.93.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 18th. Landstar System’s dividend payout ratio (DPR) is presently 48.34%.

Analysts Set New Price Targets

LSTR has been the topic of several recent analyst reports. Wells Fargo & Company raised Landstar System from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $170.00 in a report on Tuesday, January 6th. Truist Financial lowered their price target on Landstar System from $150.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, January 29th. Barclays upped their price objective on Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. TD Cowen reaffirmed a “hold” rating on shares of Landstar System in a report on Friday, January 9th. Finally, UBS Group dropped their price target on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.00.

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.