Raymond James Financial Inc. Makes New $63.82 Million Investment in Landstar System, Inc. (NASDAQ:LSTR)

Raymond James Financial Inc. purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 371,327 shares of the transportation company’s stock, valued at approximately $63,816,000. Raymond James Financial Inc. owned 1.05% of Landstar System as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Landstar System by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock valued at $278,673,000 after acquiring an additional 11,146 shares during the period. State Street Corp grew its position in shares of Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock valued at $211,130,000 after acquiring an additional 15,328 shares during the period. Geode Capital Management LLC grew its position in shares of Landstar System by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock valued at $153,685,000 after acquiring an additional 39,223 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Landstar System by 10.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock valued at $81,201,000 after acquiring an additional 41,758 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Landstar System by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 389,019 shares of the transportation company’s stock valued at $66,857,000 after acquiring an additional 15,986 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 0.8 %

LSTR opened at $160.63 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The company’s 50 day simple moving average is $165.52 and its two-hundred day simple moving average is $176.84. Landstar System, Inc. has a 1-year low of $152.64 and a 1-year high of $196.86. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 29.10 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is 26.09%.

Analysts Set New Price Targets

A number of research firms have recently commented on LSTR. Stifel Nicolaus raised their target price on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $170.40.

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.