NewEdge Wealth LLC Acquires 762 Shares of Landstar System, Inc. (NASDAQ:LSTR)

NewEdge Wealth LLC increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,383 shares of the transportation company’s stock after acquiring an additional 762 shares during the quarter. NewEdge Wealth LLC’s holdings in Landstar System were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LSTR. Golden State Wealth Management LLC bought a new position in shares of Landstar System in the 4th quarter worth about $25,000. Trust Co. of Vermont bought a new position in shares of Landstar System in the 4th quarter worth about $34,000. TD Private Client Wealth LLC increased its stake in shares of Landstar System by 27.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock worth $137,000 after acquiring an additional 158 shares in the last quarter. Huntington National Bank increased its stake in shares of Landstar System by 11.5% in the 3rd quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock worth $175,000 after acquiring an additional 95 shares in the last quarter. Finally, KBC Group NV increased its stake in Landstar System by 14.8% during the 3rd quarter. KBC Group NV now owns 1,006 shares of the transportation company’s stock valued at $190,000 after purchasing an additional 130 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $158.80 on Friday. The firm’s 50-day moving average price is $167.83 and its 200-day moving average price is $178.37. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $5.61 billion, a PE ratio of 28.77 and a beta of 0.83. Landstar System, Inc. has a 52-week low of $152.73 and a 52-week high of $196.86.

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

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LSTR. JPMorgan Chase & Co. reduced their price objective on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. Stifel Nicolaus raised their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, Susquehanna reduced their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $170.40.

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 services.