Landstar System, Inc. (NASDAQ:LSTR) Sees Large Increase in Short Interest

Landstar System, Inc. (NASDAQ:LSTR) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,507,143 shares, an increase of 24.6% from the February 26th total of 1,209,573 shares. Based on an average trading volume of 482,746 shares, the days-to-cover ratio is currently 3.1 days. Currently, 4.5% of the shares of the company are short sold.

Institutional Trading of Landstar System

A number of hedge funds and other institutional investors have recently modified their holdings of LSTR. M&T Bank Corp boosted its holdings in shares of Landstar System by 151,424.4% during the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after purchasing an additional 6,290,171 shares during the last quarter. Boston Partners lifted its position in shares of Landstar System by 24.1% in the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after buying an additional 341,808 shares in the last quarter. AQR Capital Management LLC boosted its stake in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares during the last quarter. First Trust Advisors LP boosted its stake in Landstar System by 31.8% during the third quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock valued at $118,184,000 after buying an additional 232,682 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after buying an additional 21,163 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Shares of LSTR stock traded up $3.35 during trading hours on Tuesday, reaching $160.31. 332,036 shares of the company traded hands, compared to its average volume of 454,519. The firm has a 50-day moving average price of $153.52 and a 200 day moving average price of $141.00. The company has a market cap of $5.45 billion, a P/E ratio of 48.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Landstar System has a 12-month low of $119.32 and a 12-month high of $166.11.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.0%. Landstar System’s payout ratio is currently 48.34%.

Analyst Upgrades and Downgrades

LSTR has been the subject of several research reports. Robert W. Baird set a $164.00 price target on shares of Landstar System in a research report on Friday, January 30th. Evercore boosted their target price on shares of Landstar System from $125.00 to $151.00 and gave the company an “in-line” rating in a research report on Monday, January 12th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Thursday, January 29th. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $134.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Finally, TD Cowen reiterated a “hold” rating on shares of Landstar System in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus target price of $153.00.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.