Algert Global LLC Buys 2,798 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Algert Global LLC raised its stake in Landstar System, Inc. (NASDAQ:LSTR) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,929 shares of the transportation company’s stock after purchasing an additional 2,798 shares during the quarter. Algert Global LLC owned approximately 0.11% of Landstar System worth $7,366,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after purchasing an additional 25,387 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Landstar System by 6.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after acquiring an additional 99,461 shares during the period. Boston Partners boosted its stake in shares of Landstar System by 1.0% during the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock worth $305,671,000 after acquiring an additional 15,424 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after acquiring an additional 37,020 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Landstar System by 2.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock worth $82,755,000 after acquiring an additional 10,538 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $186.93 on Friday. The stock has a market capitalization of $6.68 billion, a PE ratio of 28.76 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The business has a fifty day moving average price of $185.11 and a two-hundred day moving average price of $182.68. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $201.40.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data 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. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a return on equity of 21.69% and a net margin of 4.49%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 EPS. As a group, equities analysts predict that Landstar System, Inc. will post 5.87 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is 22.15%.

Analysts Set New Price Targets

LSTR has been the subject of several research analyst reports. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Evercore ISI lifted their target price 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. Morgan Stanley reduced their target price on 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. Stifel Nicolaus reduced their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Landstar System presently 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.