Wesbanco Bank Inc. Raises Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Wesbanco Bank Inc. boosted its position in Landstar System, Inc. (NASDAQ:LSTR) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,888 shares of the transportation company’s stock after purchasing an additional 250 shares during the quarter. Wesbanco Bank Inc.’s holdings in Landstar System were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 acquiring an additional 74 shares during the last quarter. Mather Group LLC. bought a new stake in Landstar System during the first quarter valued at approximately $27,000. Quest Partners LLC purchased a new position in Landstar System in the 2nd quarter worth approximately $73,000. Fidelis Capital Partners LLC bought a new position in shares of Landstar System in the 1st quarter worth $86,000. Finally, GAMMA Investing LLC increased its holdings in shares of Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LSTR shares. The Goldman Sachs Group dropped their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Evercore ISI cut their price objective 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. TD Cowen raised their price objective on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Raymond James cut their target price on Landstar System from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley decreased their price target on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $177.25.

Landstar System Trading Up 1.7 %

NASDAQ:LSTR opened at $191.76 on Thursday. The firm has a market capitalization of $6.86 billion, a P/E ratio of 29.50 and a beta of 0.80. 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 company has a fifty day moving average of $184.45 and a 200 day moving average of $182.65. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 EPS 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 the consensus estimate of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 earnings per share. On average, research analysts predict that Landstar System, Inc. will post 5.85 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 20th. This is a boost from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. Landstar System’s payout ratio is 22.15%.

Landstar System 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.