Landstar System (NASDAQ:LSTR) Trading Down 2.9%

Landstar System, Inc. (NASDAQ:LSTR)’s share price dropped 2.9% during mid-day trading on Wednesday . The stock traded as low as $167.66 and last traded at $169.07. Approximately 37,112 shares were traded during trading, a decline of 86% from the average daily volume of 263,626 shares. The stock had previously closed at $174.13.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LSTR. Stifel Nicolaus reduced their target price on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a research note on Wednesday, January 10th. UBS Group lifted their price objective on Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Susquehanna reduced their target price on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, March 25th. Finally, Wells Fargo & Company lifted their price target on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $184.55.

Landstar System Stock Performance

The company’s fifty day moving average price is $187.26 and its two-hundred day moving average price is $183.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $5.98 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 4.43 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.01). Landstar System had a return on equity of 26.73% and a net margin of 4.99%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. As a group, equities analysts expect that Landstar System, Inc. will post 6.71 earnings per share for the current year.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, February 9th. This represents a $1.32 annualized dividend and a yield of 0.79%. Landstar System’s dividend payout ratio is presently 17.96%.

Insider Activity

In other news, VP Michael K. Kneller sold 12,219 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the sale, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Landstar System

Several hedge funds and other institutional investors have recently made changes to their positions in LSTR. Morgan Stanley boosted its position in shares of Landstar System by 756.6% in the fourth quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock worth $496,178,000 after buying an additional 2,690,326 shares during the period. Norges Bank purchased a new position in Landstar System in the 4th quarter worth approximately $54,341,000. Victory Capital Management Inc. grew its position in Landstar System by 19.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock valued at $270,024,000 after acquiring an additional 224,286 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Landstar System during the first quarter valued at approximately $26,416,000. Finally, Invesco Ltd. lifted its position in shares of Landstar System by 55.1% during the third quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after purchasing an additional 148,490 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

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.