Landstar System, Inc. (NASDAQ:LSTR) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its position in Landstar System, Inc. (NASDAQ:LSTR) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,879 shares of the transportation company’s stock after purchasing an additional 6,957 shares during the period. AQR Capital Management LLC’s holdings in Landstar System were worth $60,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in LSTR. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Landstar System in the 2nd quarter valued at approximately $131,000. Point72 DIFC Ltd acquired a new stake in Landstar System in the second quarter valued at $106,000. Evergreen Capital Management LLC acquired a new stake in Landstar System in the second quarter valued at $301,000. Pacer Advisors Inc. boosted its position in shares of Landstar System by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,402 shares of the transportation company’s stock worth $1,366,000 after purchasing an additional 198 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in shares of Landstar System during the 2nd quarter worth $318,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

NASDAQ LSTR opened at $186.93 on Friday. 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 stock has a market cap of $6.68 billion, a price-to-earnings ratio of 28.76 and a beta of 0.80. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $201.40. The business has a fifty day moving average of $185.05 and a 200-day moving average of $182.69.

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

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid 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 was Tuesday, August 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. Landstar System’s dividend payout ratio is presently 22.15%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LSTR shares. Morgan Stanley reduced their price objective on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Evercore ISI boosted their price target on Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. TD Cowen raised their price objective on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Susquehanna boosted their target price on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.