National Bank of Canada FI Buys 226 Shares of Landstar System, Inc. (NASDAQ:LSTR)

National Bank of Canada FI increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 19.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,383 shares of the transportation company’s stock after purchasing an additional 226 shares during the quarter. National Bank of Canada FI’s holdings in Landstar System were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Aptus Capital Advisors LLC increased its position in Landstar System by 24.4% during the second quarter. Aptus Capital Advisors LLC now owns 21,068 shares of the transportation company’s stock valued at $3,887,000 after acquiring an additional 4,126 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Landstar System by 12.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 5,126 shares of the transportation company’s stock worth $946,000 after purchasing an additional 551 shares during the period. Van ECK Associates Corp grew its holdings in Landstar System by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,968 shares of the transportation company’s stock valued at $3,315,000 after purchasing an additional 1,791 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Landstar System by 5.8% in the 2nd 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 during the period. Finally, &PARTNERS bought a new stake in Landstar System in the second quarter worth about $303,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Susquehanna raised their price target on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen upped their price target on shares of Landstar System from $171.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Wolfe Research lowered Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $179.73.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $182.37 on Friday. The company has a 50 day simple moving average of $184.62 and a two-hundred day simple moving average of $182.97. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 28.06 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $201.40.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. As a group, analysts predict that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.79%. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is 22.15%.

About Landstar System

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.