Short Interest in Landstar System, Inc. (NASDAQ:LSTR) Increases By 24.6%

Landstar System, Inc. (NASDAQ:LSTR) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 1,507,143 shares, an increase of 24.6% from the February 26th total of 1,209,573 shares. Based on an average daily trading volume, of 482,746 shares, the days-to-cover ratio is currently 3.1 days. Approximately 4.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Landstar System

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp boosted its stake in Landstar System by 151,424.4% in the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after acquiring an additional 6,290,171 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after purchasing an additional 641,319 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Landstar System by 910.2% in the 4th quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock valued at $77,868,000 after purchasing an additional 488,238 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Landstar System by 5,643.4% in the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock valued at $55,577,000 after purchasing an additional 380,024 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Landstar System by 99.5% in the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after purchasing an additional 370,253 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Up 0.3%

Landstar System stock traded up $0.44 during mid-day trading on Monday, hitting $156.96. The company had a trading volume of 438,419 shares, compared to its average volume of 575,337. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Landstar System has a 1 year low of $119.32 and a 1 year high of $166.11. The business has a fifty day moving average of $153.27 and a 200 day moving average of $140.61. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 47.42 and a beta of 0.81.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, February 18th. Landstar System’s dividend payout ratio (DPR) is 48.34%.

Analysts Set New Price Targets

Several analysts recently weighed in on LSTR shares. Stifel Nicolaus raised their target price on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, January 14th. Truist Financial lowered their price target on shares of Landstar System from $150.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, January 29th. Robert W. Baird set a $164.00 price objective on shares of Landstar System in a research report on Friday, January 30th. Morgan Stanley raised their price objective on shares of Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, December 8th. Finally, Barclays lifted their price objective on shares of Landstar System from $130.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. One equities research 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 company. Based on data from MarketBeat, Landstar System currently has an average rating of “Hold” and an average target price of $153.00.

About Landstar System

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.