Brown Brothers Harriman & Co. grew its stake in Landstar System, Inc. (NASDAQ:LSTR) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,925 shares of the transportation company’s stock after buying an additional 125 shares during the period. Brown Brothers Harriman & Co.’s holdings in Landstar System were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of LSTR. Van ECK Associates Corp bought a new stake in shares of Landstar System during the 1st quarter valued at about $41,000. Eagle Bay Advisors LLC bought a new position in shares of Landstar System in the second quarter valued at approximately $46,000. Bessemer Group Inc. lifted its holdings in shares of Landstar System by 25.2% in the first quarter. Bessemer Group Inc. now owns 298 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 60 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Landstar System by 166.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 325 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 203 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Landstar System by 27.6% during the second quarter. Fifth Third Bancorp now owns 342 shares of the transportation company’s stock valued at $54,000 after acquiring an additional 74 shares during the last quarter. 98.95% of the stock is owned by institutional investors.
Shares of NASDAQ LSTR opened at $155.66 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.06. The stock has a market cap of $5.96 billion, a PE ratio of 20.16, a P/E/G ratio of 1.49 and a beta of 0.99. The company has a 50-day moving average of $161.37 and a 200 day moving average of $163.51. Landstar System, Inc. has a 12-month low of $122.63 and a 12-month high of $182.63.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Monday, August 9th were given a dividend of $0.25 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a yield of 0.64%. The ex-dividend date was Friday, August 6th. Landstar System’s dividend payout ratio (DPR) is presently 18.90%.
Several brokerages have recently weighed in on LSTR. Truist reduced their price target on Landstar System from $165.00 to $155.00 and set a “hold” rating for the company in a research report on Friday, July 23rd. Robert W. Baird reiterated a “hold” rating on shares of Landstar System in a report on Thursday, August 19th. Wells Fargo & Company decreased their price objective on Landstar System from $161.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, July 23rd. Evercore ISI initiated coverage on Landstar System in a report on Monday, September 13th. They set an “inline” rating and a $171.00 price target on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Landstar System from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Monday, July 26th. Two investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $155.23.
About Landstar System
Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.
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