Landstar System, Inc. (NASDAQ:LSTR) Shares Bought by Fenimore Asset Management Inc

Fenimore Asset Management Inc lifted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,921 shares of the transportation company’s stock after acquiring an additional 810 shares during the period. Fenimore Asset Management Inc owned 0.28% of Landstar System worth $14,858,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Landstar System during the fourth quarter worth approximately $25,000. HM Payson & Co. purchased a new position in Landstar System in the 4th quarter valued at $26,000. Colonial Trust Co SC grew its position in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company’s stock valued at $32,000 after buying an additional 71 shares during the last quarter. BOKF NA grew its position in Landstar System by 56.1% in the 4th quarter. BOKF NA now owns 348 shares of the transportation company’s stock valued at $58,000 after buying an additional 125 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in Landstar System in the 4th quarter valued at $60,000. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Up 0.1%

NASDAQ LSTR opened at $140.09 on Monday. The stock has a market cap of $4.90 billion, a PE ratio of 25.38 and a beta of 0.88. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The business has a 50 day moving average price of $138.21 and a two-hundred day moving average price of $157.22. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 earnings per share. As a group, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.14%. This is a boost from Landstar System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System’s dividend payout ratio (DPR) is presently 31.68%.

Analyst Upgrades and Downgrades

LSTR has been the topic of several research analyst reports. TD Cowen decreased their target price on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Stifel Nicolaus cut their price target on Landstar System from $147.00 to $140.00 and set a “hold” rating for the company in a research note on Wednesday, May 14th. Truist Financial cut their price target on Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group set a $154.00 price target on Landstar System in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $150.42.

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.