Reinhart Partners LLC. Buys New Stake in Landstar System, Inc. (NASDAQ:LSTR)

Reinhart Partners LLC. bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the first quarter, Holdings Channel reports. The firm bought 285,533 shares of the transportation company’s stock, valued at approximately $42,887,000. Landstar System makes up about 1.6% of Reinhart Partners LLC.’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of LSTR. Kayne Anderson Rudnick Investment Management LLC grew its stake in Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after buying an additional 521,695 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Landstar System in the 4th quarter valued at $63,816,000. Norges Bank acquired a new stake in Landstar System in the 4th quarter worth $54,088,000. Corient Private Wealth LLC increased its holdings in shares of Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock worth $50,509,000 after purchasing an additional 271,417 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Landstar System by 116.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock valued at $47,205,000 after buying an additional 147,756 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. UBS Group set a $154.00 target price on shares of Landstar System in a research note on Wednesday, May 14th. Jefferies Financial Group reduced their target price on shares of Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. Finally, Truist Financial reduced their target price on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.42.

Landstar System Price Performance

NASDAQ:LSTR opened at $140.09 on Friday. The company has a 50-day moving average of $138.21 and a 200-day moving average of $157.53. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 25.38 and a beta of 0.88. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business posted $1.32 earnings per share. Landstar System’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be issued a dividend of $0.40 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System’s dividend payout ratio (DPR) is currently 31.68%.

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.