Van ECK Associates Corp Has $2.30 Million Position in Landstar System, Inc. (NASDAQ:LSTR)

Van ECK Associates Corp lifted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,850 shares of the transportation company’s stock after acquiring an additional 2,942 shares during the quarter. Van ECK Associates Corp’s holdings in Landstar System were worth $2,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Landstar System by 1.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,560 shares of the transportation company’s stock worth $630,000 after acquiring an additional 63 shares during the last quarter. Valley Wealth Managers Inc. increased its stake in shares of Landstar System by 5.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,386 shares of the transportation company’s stock worth $245,000 after acquiring an additional 70 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Landstar System by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 15,707 shares of the transportation company’s stock worth $2,779,000 after acquiring an additional 80 shares during the last quarter. Nilsine Partners LLC increased its stake in shares of Landstar System by 3.3% in the third quarter. Nilsine Partners LLC now owns 2,619 shares of the transportation company’s stock worth $463,000 after acquiring an additional 84 shares during the last quarter. Finally, Mariner LLC increased its stake in shares of Landstar System by 0.9% in the third quarter. Mariner LLC now owns 9,448 shares of the transportation company’s stock worth $1,672,000 after acquiring an additional 87 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on LSTR. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research note on Wednesday, January 10th. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Friday, April 26th. Stifel Nicolaus lowered their target price on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Wells Fargo & Company increased their target price on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Finally, UBS Group increased their target price on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average target price of $183.91.

Landstar System Stock Up 0.1 %

NASDAQ LSTR opened at $181.66 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.22. The firm has a 50-day simple moving average of $182.11 and a 200 day simple moving average of $183.65. Landstar System, Inc. has a twelve month low of $161.13 and a twelve month high of $208.62. The stock has a market cap of $6.50 billion, a PE ratio of 27.95, a PEG ratio of 4.91 and a beta of 0.86.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, research analysts forecast that Landstar System, Inc. will post 6.49 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Wednesday, May 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s payout ratio is presently 20.31%.

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.