Gotham Asset Management LLC Increases Stake in Landstar System, Inc. $LSTR

Gotham Asset Management LLC lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 65.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 260,252 shares of the transportation company’s stock after purchasing an additional 102,524 shares during the period. Gotham Asset Management LLC’s holdings in Landstar System were worth $31,896,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. raised its holdings in Landstar System by 0.4% in the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock valued at $2,523,000 after acquiring an additional 78 shares in the last quarter. Cardinal Capital Management grew its holdings in Landstar System by 0.4% during the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock worth $2,981,000 after acquiring an additional 90 shares in the last quarter. Huntington National Bank increased its position in shares of Landstar System by 9.7% in the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 100 shares during the last quarter. MAI Capital Management increased its position in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 107 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Landstar System by 4.9% in the 2nd quarter. Vident Advisory LLC now owns 2,313 shares of the transportation company’s stock valued at $322,000 after purchasing an additional 107 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LSTR shares. Susquehanna lifted their price objective on shares of Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. raised their price target on Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings downgraded Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Morgan Stanley upped their price objective on Landstar System from $133.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Finally, Barclays increased 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $153.00.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $148.69 on Tuesday. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $166.11. The firm has a market capitalization of $5.06 billion, a P/E ratio of 44.92 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The company’s fifty day moving average price is $153.40 and its 200 day moving average price is $139.30.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Landstar System’s 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.