Van ECK Associates Corp Purchases 1,791 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Van ECK Associates Corp lifted its position in Landstar System, Inc. (NASDAQ:LSTR) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,968 shares of the transportation company’s stock after acquiring an additional 1,791 shares during the quarter. Van ECK Associates Corp owned 0.05% of Landstar System worth $3,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Landstar System by 5.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,990 shares of the transportation company’s stock worth $1,474,000 after purchasing an additional 438 shares in the last quarter. &PARTNERS bought a new position in Landstar System in the second quarter worth about $303,000. Lecap Asset Management Ltd. raised its holdings in Landstar System by 24.1% in the second quarter. Lecap Asset Management Ltd. now owns 6,922 shares of the transportation company’s stock worth $1,277,000 after purchasing an additional 1,342 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Landstar System in the second quarter worth about $197,000. Finally, Fifth Third Bancorp raised its holdings in Landstar System by 166.7% in the second quarter. Fifth Third Bancorp now owns 1,171 shares of the transportation company’s stock worth $216,000 after purchasing an additional 732 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LSTR shares. Evercore ISI boosted their target price 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. Morgan Stanley cut 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 report on Monday, July 8th. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, TD Cowen upped their price objective on shares of Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus target price of $179.73.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $180.53 on Friday. The business’s 50 day moving average price is $184.94 and its 200 day moving average price is $183.50. The firm has a market cap of $6.46 billion, a P/E ratio of 27.77 and a beta of 0.80. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $201.40. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, sell-side analysts expect that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a yield of 0.80%. This is a boost from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is currently 22.15%.

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.