Brandes Investment Partners LP Invests $258,000 in Landstar System, Inc. (NASDAQ:LSTR)

Brandes Investment Partners LP acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,401 shares of the transportation company’s stock, valued at approximately $258,000.

A number of other large investors have also bought and sold shares of LSTR. Creative Planning raised its holdings in shares of Landstar System by 18.2% during the second quarter. Creative Planning now owns 4,285 shares of the transportation company’s stock worth $790,000 after acquiring an additional 659 shares during the period. Algert Global LLC increased its holdings in Landstar System by 7.5% during the 2nd quarter. Algert Global LLC now owns 39,929 shares of the transportation company’s stock worth $7,366,000 after purchasing an additional 2,798 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Landstar System by 7.5% in the 2nd quarter. SkyView Investment Advisors LLC now owns 5,591 shares of the transportation company’s stock valued at $1,031,000 after purchasing an additional 391 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Landstar System by 2.2% in the second quarter. AQR Capital Management LLC now owns 325,879 shares of the transportation company’s stock valued at $60,118,000 after purchasing an additional 6,957 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Landstar System during the second quarter worth about $131,000. 97.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LSTR shares. Susquehanna lifted their target price on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus target price of $179.73.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $188.87 on Tuesday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $185.11 and its two-hundred day moving average price is $182.62. The company has a market cap of $6.75 billion, a PE ratio of 29.06 and a beta of 0.80. Landstar System, Inc. has a twelve month low of $161.13 and a twelve month high of $201.40.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $1.85 EPS. The firm’s revenue was down 10.8% compared to the same quarter last year. On average, analysts predict that Landstar System, Inc. will post 5.87 EPS for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a dividend of $0.36 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.76%. Landstar System’s payout ratio is presently 22.15%.

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.