Valley Wealth Managers Inc. Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

Valley Wealth Managers Inc. increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 22.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,759 shares of the transportation company’s stock after buying an additional 322 shares during the period. Valley Wealth Managers Inc.’s holdings in Landstar System were worth $339,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Landstar System by 36.5% during the first quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock worth $3,118,000 after acquiring an additional 4,327 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Landstar System during the fourth quarter worth approximately $2,261,000. Vaughan Nelson Investment Management L.P. increased its stake in Landstar System by 4.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 277,741 shares of the transportation company’s stock worth $53,784,000 after acquiring an additional 11,370 shares during the last quarter. Royal Bank of Canada increased its stake in Landstar System by 6.3% during the third quarter. Royal Bank of Canada now owns 335,747 shares of the transportation company’s stock worth $59,407,000 after acquiring an additional 19,920 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Landstar System by 137.0% during the fourth quarter. Hsbc Holdings PLC now owns 8,028 shares of the transportation company’s stock valued at $1,556,000 after buying an additional 4,641 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Up 1.6 %

Landstar System stock traded up $2.89 during mid-day trading on Thursday, reaching $178.21. 208,656 shares of the company were exchanged, compared to its average volume of 269,931. Landstar System, Inc. has a 12-month low of $161.13 and a 12-month high of $208.62. The business has a fifty day moving average of $181.27 and a 200 day moving average of $185.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $6.37 billion, a P/E ratio of 26.97 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Research analysts anticipate that Landstar System, Inc. will post 6.31 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. Landstar System’s dividend payout ratio is presently 20.31%.

Analyst Ratings Changes

A number of research analysts have recently commented on LSTR shares. Susquehanna cut their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus cut their target price on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Raymond James started coverage on Landstar System in a research note on Wednesday, May 15th. They set an “outperform” rating and a $205.00 target price on the stock. Wolfe Research cut Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $182.55.

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.