Bayforest Capital Ltd Raises Stock Position in Landstar System, Inc. $LSTR

Bayforest Capital Ltd grew its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 19.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,134 shares of the transportation company’s stock after buying an additional 502 shares during the period. Bayforest Capital Ltd’s holdings in Landstar System were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LSTR. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Landstar System by 8.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company’s stock worth $613,372,000 after buying an additional 319,101 shares in the last quarter. Nuveen LLC purchased a new position in shares of Landstar System in the 1st quarter worth $34,540,000. Reinhart Partners LLC. grew its stake in shares of Landstar System by 49.2% in the 2nd quarter. Reinhart Partners LLC. now owns 426,033 shares of the transportation company’s stock worth $59,229,000 after buying an additional 140,500 shares in the last quarter. Northern Trust Corp grew its stake in shares of Landstar System by 9.1% in the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company’s stock worth $110,285,000 after buying an additional 61,477 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of Landstar System by 20.9% during the 2nd quarter. Boston Trust Walden Corp now owns 330,218 shares of the transportation company’s stock worth $45,907,000 after purchasing an additional 56,998 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Down 0.5%

Shares of LSTR opened at $126.42 on Thursday. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $196.86. The company has a 50-day moving average of $128.09 and a 200 day moving average of $135.05. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 26.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.00 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $1.48 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th were issued a $0.40 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. Landstar System’s payout ratio is currently 33.54%.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of recent analyst reports. Robert W. Baird initiated coverage on shares of Landstar System in a research note on Tuesday, July 1st. They set an “outperform” rating and a $166.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Landstar System in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Landstar System from $147.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Barclays dropped their price target on shares of Landstar System from $145.00 to $135.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $142.36.

Landstar System 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.