Landstar System (NASDAQ:LSTR) Shares Down 2.9%

Landstar System, Inc. (NASDAQ:LSTR)’s stock price traded down 2.9% during mid-day trading on Wednesday . The stock traded as low as $167.66 and last traded at $169.07. 37,112 shares were traded during mid-day trading, a decline of 86% from the average session volume of 263,626 shares. The stock had previously closed at $174.13.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Stifel Nicolaus cut their price objective on Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a report on Friday, February 2nd. UBS Group upped their price objective on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Susquehanna cut their price objective on Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, March 25th. Finally, Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a report on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $184.55.

Landstar System Stock Performance

The firm has a market capitalization of $6.02 billion, a PE ratio of 22.88, a P/E/G ratio of 4.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a fifty day moving average price of $188.10 and a 200 day moving average price of $183.82.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, January 31st. The transportation company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). Landstar System had a net margin of 4.99% and a return on equity of 26.73%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Research analysts anticipate that Landstar System, Inc. will post 6.71 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, February 9th. Landstar System’s payout ratio is 17.96%.

Insider Activity at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the transaction, the vice president now directly owns 61,127 shares of the company’s stock, valued at $11,632,468.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in Landstar System by 1.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,560 shares of the transportation company’s stock valued at $630,000 after purchasing an additional 63 shares during the period. Savant Capital LLC lifted its position in shares of Landstar System by 3.6% in the 4th quarter. Savant Capital LLC now owns 1,858 shares of the transportation company’s stock worth $303,000 after acquiring an additional 64 shares during the period. Valley Wealth Managers Inc. lifted its position in shares of Landstar System by 5.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 1,386 shares of the transportation company’s stock worth $245,000 after buying an additional 70 shares during the period. Studio Investment Management LLC lifted its position in shares of Landstar System by 2.9% during the 4th quarter. Studio Investment Management LLC now owns 2,473 shares of the transportation company’s stock worth $403,000 after buying an additional 70 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Landstar System by 3.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,386 shares of the transportation company’s stock worth $389,000 after buying an additional 76 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

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.