Brooklyn FI LLC Takes $386,000 Position in Landstar System, Inc. (NASDAQ:LSTR)

Brooklyn FI LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,112 shares of the transportation company’s stock, valued at approximately $386,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Verition Fund Management LLC grew its stake in shares of Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock valued at $11,144,000 after buying an additional 12,931 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Landstar System by 419.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock worth $695,000 after purchasing an additional 2,973 shares in the last quarter. FMR LLC boosted its stake in shares of Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock valued at $30,639,000 after purchasing an additional 12,894 shares during the period. State Street Corp grew its holdings in 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 purchasing an additional 15,328 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Landstar System by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock worth $2,935,000 after buying an additional 3,150 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Down 1.7 %

NASDAQ:LSTR opened at $147.02 on Thursday. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $162.63 and a 200-day moving average of $175.25. The firm has a market capitalization of $5.19 billion, a PE ratio of 26.63 and a beta of 0.82. Landstar System, Inc. has a 52 week low of $145.00 and a 52 week high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 EPS 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 predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is 26.09%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LSTR shares. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. Stifel Nicolaus upped 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. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Truist Financial initiated coverage on shares of Landstar System in a research note on Thursday, March 13th. They set a “hold” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $169.45.

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.