GAMMA Investing LLC Grows Position in Landstar System, Inc. (NASDAQ:LSTR)

GAMMA Investing LLC grew its position in Landstar System, Inc. (NASDAQ:LSTR) by 13,120.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,290 shares of the transportation company’s stock after buying an additional 66,781 shares during the period. GAMMA Investing LLC’s holdings in Landstar System were worth $10,107,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LSTR. Golden State Wealth Management LLC acquired a new stake in Landstar System in the 4th quarter worth approximately $25,000. HM Payson & Co. purchased a new position in shares of Landstar System during the 4th quarter valued at approximately $26,000. Colonial Trust Co SC increased its holdings in shares of Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. BOKF NA increased its holdings in shares of Landstar System by 56.1% during the 4th quarter. BOKF NA now owns 348 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 125 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in Landstar System in the 4th quarter worth $60,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Trading Up 0.1%

Shares of LSTR opened at $140.09 on Friday. The firm’s fifty day moving average is $138.21 and its two-hundred day moving average is $157.37. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.90 billion, a PE ratio of 25.38 and a beta of 0.88. Landstar System, Inc. has a 52-week low of $128.99 and a 52-week high of $196.86.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. Research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be issued a $0.40 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System’s payout ratio is 31.68%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Landstar System from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. TD Cowen cut their price target on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Stifel Nicolaus cut their price target on shares of Landstar System from $147.00 to $140.00 and set a “hold” rating for the company in a report on Wednesday, May 14th. Susquehanna cut their price target on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $150.42.

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.