Benchmark Reiterates “Hold” Rating for Landstar System (NASDAQ:LSTR)

Benchmark reaffirmed their hold rating on shares of Landstar System (NASDAQ:LSTR) in a research report sent to investors on Friday,Benzinga reports.

Several other brokerages have also recently issued reports on LSTR. The Goldman Sachs Group cut their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Susquehanna dropped their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. TD Cowen reduced their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average price target of $171.27.

Landstar System Stock Performance

Shares of LSTR stock opened at $164.66 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $177.10 and a two-hundred day simple moving average of $182.02. Landstar System has a 12 month low of $162.58 and a 12 month high of $197.16. The firm has a market capitalization of $5.82 billion, a PE ratio of 29.83 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 19.37% and a net margin of 4.07%. Analysts forecast that Landstar System will post 6.7 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. Investors of record on Tuesday, February 18th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Tuesday, February 18th. Landstar System’s dividend payout ratio is currently 26.09%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Several institutional investors and hedge funds have recently modified their holdings of the stock. Verition Fund Management LLC lifted its position in Landstar System by 28.1% during 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 during the period. ING Groep NV purchased a new position in Landstar System during the 3rd quarter valued at about $1,228,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in 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 acquiring an additional 2,973 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Landstar System by 3,775.2% in the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock worth $63,243,000 after purchasing an additional 326,212 shares during the period. Finally, FMR LLC increased its stake in shares of Landstar System by 8.6% during 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 in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

About Landstar System

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.