Point72 Asia Singapore Pte. Ltd. Invests $131,000 in Landstar System, Inc. (NASDAQ:LSTR)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 709 shares of the transportation company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of Landstar System during the first quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its position in Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. Quest Partners LLC acquired a new position in Landstar System during the 2nd quarter worth approximately $73,000. Fidelis Capital Partners LLC bought a new position in Landstar System in the first quarter worth approximately $86,000. Finally, GAMMA Investing LLC grew its stake in Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 183 shares during the period. 97.95% of the stock is owned by institutional investors.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $181.27 on Friday. The company has a market capitalization of $6.48 billion, a PE ratio of 27.89 and a beta of 0.80. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $185.05 and its 200-day moving average price is $182.68. Landstar System, Inc. has a twelve month low of $161.13 and a twelve month high of $201.40.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share 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 analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. On average, equities analysts anticipate that Landstar System, Inc. will post 5.87 EPS for the current year.

Landstar System Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is 22.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LSTR. Susquehanna upped their target price on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley dropped 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 note on Monday, July 8th. JPMorgan Chase & Co. lifted 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. Stifel Nicolaus lowered their target price 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, Evercore ISI cut their price target on Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus price target of $179.00.

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.