Rhumbline Advisers Buys 10,367 Shares of Landstar System, Inc. $LSTR

Rhumbline Advisers lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 10.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,195 shares of the transportation company’s stock after acquiring an additional 10,367 shares during the quarter. Rhumbline Advisers’ holdings in Landstar System were worth $13,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in LSTR. Norges Bank acquired a new stake in Landstar System during the 2nd quarter valued at approximately $40,190,000. Fenimore Asset Management Inc boosted its stake in shares of Landstar System by 231.3% in the 3rd quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock valued at $41,809,000 after purchasing an additional 238,173 shares during the last quarter. Clarkston Capital Partners LLC acquired a new stake in shares of Landstar System during the second quarter worth $27,217,000. Boston Partners raised its stake in Landstar System by 14.2% during the second quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock worth $197,310,000 after buying an additional 176,601 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Landstar System by 80.1% during the second quarter. Qube Research & Technologies Ltd now owns 358,754 shares of the transportation company’s stock worth $49,874,000 after buying an additional 159,541 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on LSTR shares. Robert W. Baird set a $164.00 price target on Landstar System in a report on Friday, January 30th. Evercore raised their target price on Landstar System from $125.00 to $151.00 and gave the stock an “in-line” rating in a research note on Monday, January 12th. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Thursday, January 29th. Zacks Research upgraded Landstar System from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, UBS Group decreased their price target on shares of Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $153.00.

Landstar System Stock Performance

Shares of LSTR opened at $147.33 on Thursday. The stock has a 50 day moving average of $149.35 and a 200 day moving average of $136.40. The company has a current ratio of 1.75, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $165.25. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 44.51 and a beta of 0.85.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Landstar System’s dividend payout ratio (DPR) is presently 48.34%.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.