Landstar System, Inc. $LSTR Shares Purchased by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 19.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 85,380 shares of the transportation company’s stock after buying an additional 13,780 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Landstar System were worth $11,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. grew its holdings in Landstar System by 0.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after acquiring an additional 78 shares in the last quarter. Cardinal Capital Management raised its position in shares of Landstar System by 0.4% during the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock worth $2,981,000 after purchasing an additional 90 shares during the period. Huntington National Bank lifted its stake in Landstar System by 9.7% in the third quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after buying an additional 100 shares during the last quarter. Eukles Asset Management boosted its stake in Landstar System by 1.1% during the 2nd quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after purchasing an additional 105 shares during the period. Finally, MAI Capital Management boosted its position in shares of Landstar System by 79.3% during the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 0.7%

NASDAQ LSTR opened at $164.51 on Thursday. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $166.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50-day simple moving average of $151.94 and a 200 day simple moving average of $138.19. The stock has a market cap of $5.60 billion, a PE ratio of 49.70 and a beta of 0.82.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 18th. Landstar System’s dividend payout ratio is currently 48.34%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LSTR. Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Wells Fargo & Company upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $145.00 to $170.00 in a report on Tuesday, January 6th. Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Evercore upped their price target on shares of Landstar System from $125.00 to $151.00 and gave the stock an “in-line” rating in a research note on Monday, January 12th. Finally, Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus target price 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.