Quantbot Technologies LP Raises Stake in Landstar System, Inc. (NASDAQ:LSTR)

Quantbot Technologies LP raised its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 415.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,223 shares of the transportation company’s stock after buying an additional 4,209 shares during the quarter. Quantbot Technologies LP’s holdings in Landstar System were worth $1,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Landstar System by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock valued at $668,993,000 after acquiring an additional 27,026 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Landstar System by 19.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock valued at $270,024,000 after purchasing an additional 224,286 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Landstar System by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 555,085 shares of the transportation company’s stock valued at $107,496,000 after purchasing an additional 21,395 shares during the period. Wells Fargo & Company MN grew its position in shares of Landstar System by 1.8% during the 4th quarter. Wells Fargo & Company MN now owns 437,754 shares of the transportation company’s stock valued at $84,771,000 after purchasing an additional 7,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Landstar System by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 347,804 shares of the transportation company’s stock worth $67,352,000 after purchasing an additional 8,219 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LSTR has been the subject of several research analyst reports. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Friday, April 26th. Stifel Nicolaus dropped their price target on Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Morgan Stanley decreased their price objective on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Finally, Evercore ISI increased their price target on shares of Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $182.55.

Landstar System Price Performance

Shares of Landstar System stock opened at $180.56 on Friday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 27.78 and a beta of 0.80. The company has a fifty day moving average of $181.31 and a 200-day moving average of $185.18. Landstar System, Inc. has a 52-week low of $161.13 and a 52-week high of $208.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.04. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. Equities research analysts expect that Landstar System, Inc. will post 6.29 EPS for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were paid a $0.33 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. Landstar System’s dividend payout ratio (DPR) is currently 20.31%.

Landstar System Company 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.