JPMorgan Chase & Co. Increases Stock Position in Landstar System, Inc. $LSTR

JPMorgan Chase & Co. boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 746,506 shares of the transportation company’s stock after acquiring an additional 21,163 shares during the quarter. JPMorgan Chase & Co. owned 2.17% of Landstar System worth $91,492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MAI Capital Management raised its stake in shares of 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 purchasing an additional 107 shares during the last quarter. UMB Bank n.a. increased its holdings in Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock worth $36,000 after buying an additional 225 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Landstar System by 7,650.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 310 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 306 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Landstar System by 126.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 315 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 4.7%

LSTR opened at $146.01 on Tuesday. The firm’s 50 day simple moving average is $149.47 and its two-hundred day simple moving average is $136.86. The company has a market capitalization of $5.02 billion, a PE ratio of 44.11 and a beta of 0.85. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $165.25. 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Weiss Ratings cut shares of Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 12th. Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Evercore increased their price target on Landstar System from $125.00 to $151.00 and gave the company an “in-line” rating in a report on Monday, January 12th. Finally, Susquehanna raised their price target on Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. One 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.00.

Landstar System 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.