First Trust Advisors LP Buys 117,961 Shares of Landstar System, Inc. (NASDAQ:LSTR)

First Trust Advisors LP grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 28.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 526,000 shares of the transportation company’s stock after buying an additional 117,961 shares during the period. First Trust Advisors LP’s holdings in Landstar System were worth $90,398,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Farringdon Capital Ltd. bought a new stake in shares of Landstar System in the 4th quarter worth approximately $331,000. Ontario Teachers Pension Plan Board raised its stake in shares of Landstar System by 86.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,297 shares of the transportation company’s stock valued at $2,801,000 after purchasing an additional 7,560 shares in the last quarter. Mariner LLC lifted its position in Landstar System by 2.0% in the fourth quarter. Mariner LLC now owns 7,627 shares of the transportation company’s stock worth $1,311,000 after purchasing an additional 151 shares during the period. Barclays PLC boosted its stake in Landstar System by 30.4% during the fourth quarter. Barclays PLC now owns 46,772 shares of the transportation company’s stock worth $8,039,000 after buying an additional 10,899 shares in the last quarter. Finally, Petros Family Wealth LLC bought a new stake in Landstar System in the 4th quarter valued at $250,000. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 2.6 %

Shares of NASDAQ LSTR opened at $137.82 on Monday. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The firm’s 50-day simple moving average is $149.63 and its 200 day simple moving average is $168.41. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 24.97 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. On average, research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. Landstar System’s dividend payout ratio (DPR) is currently 26.09%.

Wall Street Analyst Weigh In

LSTR has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Truist Financial decreased their price objective on Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Stifel Nicolaus dropped their target price on Landstar System from $162.00 to $147.00 and set a “hold” rating for the company in a report on Monday, April 14th. Jefferies Financial Group decreased their price target on Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $156.92.

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.