Systematic Financial Management LP Takes Position in Landstar System, Inc. (NASDAQ:LSTR)

Systematic Financial Management LP purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, HoldingsChannel reports. The firm purchased 8,495 shares of the transportation company’s stock, valued at approximately $917,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LSTR. FMR LLC increased its stake in Landstar System by 4.8% in the fourth quarter. FMR LLC now owns 908,274 shares of the transportation company’s stock valued at $86,895,000 after acquiring an additional 41,830 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Landstar System by 1.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 874,193 shares of the transportation company’s stock valued at $95,628,000 after acquiring an additional 15,101 shares during the last quarter. Virtu Financial LLC bought a new position in Landstar System in the first quarter valued at approximately $459,000. Retirement Systems of Alabama increased its stake in Landstar System by 3.1% in the second quarter. Retirement Systems of Alabama now owns 104,530 shares of the transportation company’s stock valued at $11,288,000 after acquiring an additional 3,150 shares during the last quarter. Finally, BTIM Corp. increased its stake in Landstar System by 1.9% in the first quarter. BTIM Corp. now owns 206,371 shares of the transportation company’s stock valued at $22,575,000 after acquiring an additional 3,753 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Landstar System from $119.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. BidaskClub cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Deutsche Bank set a $107.00 price objective on shares of Landstar System and gave the company a “hold” rating in a research note on Thursday, July 11th. Buckingham Research decreased their price objective on shares of Landstar System from $121.00 to $112.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Finally, Morgan Stanley set a $91.00 price objective on shares of Landstar System and gave the company a “sell” rating in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $110.90.

Shares of NASDAQ LSTR traded down $1.60 during midday trading on Friday, reaching $109.44. 240,730 shares of the company were exchanged, compared to its average volume of 356,477. The company’s 50-day moving average price is $108.71. The stock has a market capitalization of $4.40 billion, a PE ratio of 17.71, a P/E/G ratio of 1.50 and a beta of 1.27. Landstar System, Inc. has a one year low of $90.23 and a one year high of $128.70. The company has a current ratio of 1.98, a quick ratio of 2.00 and a debt-to-equity ratio of 0.09.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.01). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.07 billion. Landstar System had a return on equity of 36.17% and a net margin of 5.82%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 EPS. Analysts forecast that Landstar System, Inc. will post 6.18 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Landstar System’s previous quarterly dividend of $0.17. Landstar System’s payout ratio is presently 10.68%.

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 service providers.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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