Graham Capital Management L.P. boosted its stake in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 263.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,467 shares of the transportation company's stock after purchasing an additional 6,864 shares during the period. Graham Capital Management L.P.'s holdings in Landstar System were worth $1,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Landstar System by 0.8% in the 1st quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company's stock valued at $616,286,000 after purchasing an additional 31,476 shares during the last quarter. Atlanta Capital Management Co. L L C increased its position in Landstar System by 2.4% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,173,250 shares of the transportation company's stock valued at $389,055,000 after acquiring an additional 51,877 shares during the period. State Street Corp increased its position in Landstar System by 4.1% in the 4th quarter. State Street Corp now owns 1,132,819 shares of the transportation company's stock valued at $202,797,000 after acquiring an additional 45,063 shares during the period. JPMorgan Chase & Co. increased its position in Landstar System by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 950,267 shares of the transportation company's stock valued at $143,329,000 after acquiring an additional 3,707 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in Landstar System by 3.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 757,548 shares of the transportation company's stock valued at $114,261,000 after acquiring an additional 25,515 shares during the period. Institutional investors own 98.90% of the company's stock.

Insider Activity at Landstar System

In related news, COO Joseph J. Beacom sold 2,863 shares of the firm's stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $156.56, for a total transaction of $448,231.28. Following the transaction, the chief operating officer now directly owns 17,805 shares of the company's stock, valued at $2,787,550.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

Landstar System Stock Up 2.1 %

Landstar System (NASDAQ:LSTR – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The transportation company reported $3.05 earnings per share for the quarter, missing analysts' consensus estimates of $3.25 by ($0.20). Landstar System had a net margin of 5.89% and a return on equity of 51.73%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm's revenue for the quarter was up 25.7% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 11.7 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 8th were given a dividend of $0.30 per share. This is a positive change from Landstar System's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, August 5th. Landstar System's dividend payout ratio (DPR) is presently 10.03%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LSTR. Benchmark began coverage on shares of Landstar System in a research report on Tuesday, September 6th. They set a "hold" rating for the company. StockNews.com cut shares of Landstar System from a "buy" rating to a "hold" rating in a research report on Saturday, September 3rd. Susquehanna Bancshares decreased their price objective on shares of Landstar System from $155.00 to $153.00 and set a "neutral" rating for the company in a research report on Friday, July 22nd. Evercore ISI decreased their price objective on shares of Landstar System from $173.00 to $161.00 and set an "in-line" rating for the company in a research report on Tuesday, July 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Landstar System from $165.00 to $147.00 and set an "equal weight" rating for the company in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $162.08.

Landstar System Company Profile

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Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.

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