Benjamin F. Edwards & Company Inc. Purchases 184 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Benjamin F. Edwards & Company Inc. boosted its position in Landstar System, Inc. (NASDAQ:LSTR) by 17.9% during the second quarter, HoldingsChannel reports. The fund owned 1,214 shares of the transportation company’s stock after buying an additional 184 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Landstar System were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its holdings in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. Mather Group LLC. purchased a new position in Landstar System during the 1st quarter valued at about $27,000. Quest Partners LLC purchased a new position in Landstar System during the 2nd quarter valued at about $73,000. Fidelis Capital Partners LLC purchased a new position in Landstar System during the 1st quarter valued at about $86,000. Finally, GAMMA Investing LLC grew its holdings in Landstar System by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after buying an additional 183 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Down 1.3 %

Shares of LSTR opened at $183.15 on Thursday. The firm has a market cap of $6.55 billion, a P/E ratio of 28.18 and a beta of 0.80. The stock has a 50 day simple moving average of $185.01 and a two-hundred day simple moving average of $182.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Landstar System’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, analysts forecast that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a yield of 0.79%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is presently 22.15%.

Analyst Ratings Changes

A number of research analysts have weighed in on LSTR shares. Raymond James reduced their target price on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wolfe Research lowered Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Morgan Stanley cut their price objective on Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Stifel Nicolaus cut their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Evercore ISI boosted their price objective on Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $179.73.

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.