Landstar System, Inc. (NASDAQ:LSTR) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,972 shares of the transportation company’s stock after buying an additional 87 shares during the period. Cardinal Capital Management’s holdings in Landstar System were worth $3,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LSTR. National Bank of Canada FI boosted its holdings in shares of Landstar System by 59.6% in the 1st quarter. National Bank of Canada FI now owns 158 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 59 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Landstar System in the 1st quarter valued at about $38,000. Machina Capital S.A.S. acquired a new position in shares of Landstar System in the 1st quarter valued at about $54,000. Belpointe Asset Management LLC lifted its stake in shares of Landstar System by 150.7% in the 1st quarter. Belpointe Asset Management LLC now owns 356 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 214 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Landstar System by 20.9% during the 1st quarter. Fifth Third Bancorp now owns 405 shares of the transportation company’s stock valued at $73,000 after acquiring an additional 70 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 0.6 %

Shares of NASDAQ:LSTR opened at $185.40 on Tuesday. Landstar System, Inc. has a fifty-two week low of $139.49 and a fifty-two week high of $208.62. The company has a market cap of $6.67 billion, a PE ratio of 19.77 and a beta of 0.91. The company’s 50-day moving average price is $193.99 and its 200 day moving average price is $185.13. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, July 26th. The transportation company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.05. Landstar System had a return on equity of 36.67% and a net margin of 5.37%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business earned $3.05 earnings per share. The firm’s revenue for the quarter was down 30.4% compared to the same quarter last year. Sell-side analysts anticipate that Landstar System, Inc. will post 7.65 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 0.71%. This is an increase from Landstar System’s previous quarterly dividend of $0.30. Landstar System’s payout ratio is currently 14.07%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LSTR shares. Evercore ISI reduced their target price on shares of Landstar System from $172.00 to $165.00 in a report on Tuesday, June 27th. Robert W. Baird increased their price target on Landstar System from $175.00 to $200.00 in a report on Friday, July 28th. StockNews.com initiated coverage on shares of Landstar System in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on shares of Landstar System from $146.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Landstar System from $180.00 to $190.00 in a research note on Thursday, July 13th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $178.77.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.