SG Americas Securities LLC Purchases 1,917 Shares of Landstar System, Inc. (NASDAQ:LSTR)

SG Americas Securities LLC increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 119.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,528 shares of the transportation company’s stock after acquiring an additional 1,917 shares during the quarter. SG Americas Securities LLC’s holdings in Landstar System were worth $666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Landstar System by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock valued at $668,993,000 after purchasing an additional 27,026 shares during the period. Mather Group LLC. bought a new position in shares of Landstar System in the first quarter worth $27,000. Bridge City Capital LLC boosted its holdings in shares of Landstar System by 0.8% in the first quarter. Bridge City Capital LLC now owns 16,936 shares of the transportation company’s stock worth $3,265,000 after acquiring an additional 131 shares during the period. Cardinal Capital Management raised its stake in shares of Landstar System by 12.3% during the 1st quarter. Cardinal Capital Management now owns 19,367 shares of the transportation company’s stock valued at $3,733,000 after purchasing an additional 2,126 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Landstar System by 21.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 337,271 shares of the transportation company’s stock worth $65,013,000 after purchasing an additional 59,530 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

NASDAQ:LSTR opened at $187.78 on Monday. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $201.40. 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 50 day moving average of $184.31 and a 200 day moving average of $182.67. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 28.89 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. On average, sell-side analysts predict that Landstar System, Inc. will post 5.85 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. Stockholders of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is currently 22.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LSTR shares. Evercore ISI reduced their target price on Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Raymond James lowered their target price on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $182.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Susquehanna increased their price objective 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, The Goldman Sachs Group reduced their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.25.

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.