Fuller & Thaler Asset Management Inc. raised its stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 757,548 shares of the transportation company's stock after purchasing an additional 25,515 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 2.04% of Landstar System worth $114,261,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Landstar System in the first quarter worth $262,000. Zions Bancorporation N.A. increased its stake in shares of Landstar System by 41.5% in the first quarter. Zions Bancorporation N.A. now owns 4,743 shares of the transportation company's stock worth $715,000 after acquiring an additional 1,391 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Landstar System by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 550,191 shares of the transportation company's stock worth $82,994,000 after acquiring an additional 15,356 shares during the period. Yousif Capital Management LLC increased its stake in shares of Landstar System by 2.6% in the first quarter. Yousif Capital Management LLC now owns 21,019 shares of the transportation company's stock worth $3,170,000 after acquiring an additional 531 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Landstar System by 7.8% in the first quarter. Great West Life Assurance Co. Can now owns 21,649 shares of the transportation company's stock worth $3,359,000 after acquiring an additional 1,563 shares during the period. Institutional investors and hedge funds own 98.90% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Evercore ISI cut their price objective on shares of Landstar System from $173.00 to $161.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 12th. Wells Fargo & Company dropped their price target on shares of Landstar System from $165.00 to $147.00 and set an "equal weight" rating on the stock in a research report on Friday, July 15th. Susquehanna Bancshares dropped their price target on shares of Landstar System from $155.00 to $153.00 and set a "neutral" rating on the stock in a research report on Friday, July 22nd. Benchmark started coverage on shares of Landstar System in a research report on Tuesday. They set a "hold" rating on the stock. Finally, Cowen dropped their price target on shares of Landstar System to $157.00 in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat.com, Landstar System presently has an average rating of "Hold" and a consensus price target of $162.08.
Insider Transactions at Landstar System
In related news, COO Joseph J. Beacom sold 2,863 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $156.56, for a total value of $448,231.28. Following the sale, the chief operating officer now directly owns 17,805 shares of the company's stock, valued at approximately $2,787,550.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company's stock.
Landstar System Trading Down 0.6 %
Shares of LSTR stock opened at $143.61 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $5.23 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.03 and a beta of 0.94. The company has a 50 day moving average price of $150.23 and a 200 day moving average price of $150.55. Landstar System, Inc. has a fifty-two week low of $137.15 and a fifty-two week high of $188.63.
Landstar System (NASDAQ:LSTR – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The transportation company reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.25 by ($0.20). Landstar System had a return on equity of 51.73% and a net margin of 5.89%. The company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter in the prior year, the firm posted $2.40 EPS. The firm's quarterly revenue was up 25.7% compared to the same quarter last year. Equities research analysts predict that Landstar System, Inc. will post 11.7 EPS for the current fiscal year.
Landstar System Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 5th. This is a boost 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 0.84%. Landstar System's dividend payout ratio is 10.03%.
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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