JPMorgan Chase & Co. Grows Holdings in Landstar System, Inc. $LSTR

JPMorgan Chase & Co. increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 746,506 shares of the transportation company’s stock after buying an additional 21,163 shares during the quarter. JPMorgan Chase & Co.’s holdings in Landstar System were worth $91,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its position in shares of Landstar System by 20.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 16,377 shares of the transportation company’s stock worth $2,007,000 after purchasing an additional 2,760 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Landstar System during the 3rd quarter valued at $119,000. Illinois Municipal Retirement Fund boosted its holdings in Landstar System by 2.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 21,410 shares of the transportation company’s stock worth $2,624,000 after buying an additional 420 shares during the period. Caprock Group LLC purchased a new stake in Landstar System in the 3rd quarter worth $311,000. Finally, Rhumbline Advisers increased its stake in Landstar System by 10.1% in the 3rd quarter. Rhumbline Advisers now owns 113,195 shares of the transportation company’s stock worth $13,873,000 after buying an additional 10,367 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 4.7%

Shares of LSTR opened at $146.01 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 2.01. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 44.11 and a beta of 0.85. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $165.25. The business’s 50 day simple moving average is $149.47 and its 200-day simple moving average is $136.86.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.1%. Landstar System’s dividend payout ratio (DPR) is 48.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LSTR shares. TD Cowen restated a “hold” rating on shares of Landstar System in a research report on Friday, January 9th. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Thursday, January 29th. Morgan Stanley increased their price objective on shares of Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, December 8th. Barclays lifted their price objective on shares of Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Finally, Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Landstar System has an average rating of “Hold” and a consensus price target of $153.00.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.