Confluence Wealth Services Inc. Increases Stake in Landstar System, Inc. (NASDAQ:LSTR)

Confluence Wealth Services Inc. grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 16.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,591 shares of the transportation company’s stock after buying an additional 952 shares during the period. Confluence Wealth Services Inc.’s holdings in Landstar System were worth $1,161,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in shares of Landstar System in the 4th quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Landstar System by 431.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 358 shares in the last quarter. GAMMA Investing LLC increased its holdings in Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 70 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Landstar System by 27.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 158 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Landstar System by 11.5% during the 3rd quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

LSTR opened at $162.70 on Wednesday. The company’s 50 day simple moving average is $176.15 and its 200 day simple moving average is $181.64. 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, Inc. has a 1 year low of $159.87 and a 1 year high of $196.86. The stock has a market capitalization of $5.75 billion, a PE ratio of 29.47 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.42 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.44 annualized dividend and a yield of 0.89%. Landstar System’s dividend payout ratio is currently 26.09%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. TD Cowen dropped their target price on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Stephens decreased their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Susquehanna decreased their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $170.40.

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.