Landstar System, Inc. (NASDAQ:LSTR – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $157.98 and last traded at $159.21, with a volume of 50598 shares. The stock had previously closed at $158.38.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research report on Wednesday, October 30th. Susquehanna lowered their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Stephens cut their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $170.40.
Read Our Latest Report on Landstar System
Landstar System Trading Up 0.4 %
Landstar System (NASDAQ:LSTR – Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.
Landstar System Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after purchasing an additional 521,695 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Landstar System by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after acquiring an additional 11,146 shares during the last quarter. State Street Corp lifted its stake in shares of Landstar System by 1.4% in the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after acquiring an additional 15,328 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Landstar System by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock valued at $140,602,000 after purchasing an additional 4,392 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Landstar System by 15.6% during the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock valued at $115,624,000 after purchasing an additional 90,672 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.
Landstar System Company 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.
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