53,485 Shares in Landstar System, Inc. $LSTR Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 53,485 shares of the transportation company’s stock, valued at approximately $7,435,000.

Other hedge funds have also added to or reduced their stakes in the company. Eukles Asset Management boosted its holdings in shares of Landstar System by 1.1% in the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after purchasing an additional 105 shares during the period. MAI Capital Management lifted its stake in Landstar System by 79.3% in the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after acquiring an additional 107 shares during the period. Burgundy Asset Management Ltd. grew its holdings in Landstar System by 5.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,703 shares of the transportation company’s stock worth $406,000 after acquiring an additional 130 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Landstar System by 118.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 152 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LSTR has been the topic of several research reports. Barclays cut their price objective on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday. UBS Group cut their price target on Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Landstar System in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.50.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $148.75 on Thursday. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $190.69. The company has a market cap of $5.11 billion, a PE ratio of 37.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.01. The business has a 50-day simple moving average of $129.93 and a two-hundred day simple moving average of $132.88.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. As a group, equities analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a dividend yield of 142.0%. Landstar System’s dividend payout ratio is currently 40.82%.

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.