Wedge Capital Management L L P NC Has $3.36 Million Position in Landstar System, Inc. (NASDAQ:LSTR)

Wedge Capital Management L L P NC grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,805 shares of the transportation company’s stock after acquiring an additional 99 shares during the period. Wedge Capital Management L L P NC owned 0.05% of Landstar System worth $3,363,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LSTR. Callan Family Office LLC purchased a new position in Landstar System in the third quarter valued at about $213,000. GAMMA Investing LLC grew its stake in shares of Landstar System by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after buying an additional 70 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Landstar System by 29.2% in the third quarter. Handelsbanken Fonder AB now owns 9,744 shares of the transportation company’s stock worth $1,840,000 after buying an additional 2,200 shares during the last quarter. SG Americas Securities LLC raised its position in Landstar System by 119.0% during the third quarter. SG Americas Securities LLC now owns 3,528 shares of the transportation company’s stock valued at $666,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Landstar System in the second quarter valued at approximately $106,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of recent research reports. The Goldman Sachs Group cut their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Benchmark restated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Morgan Stanley reduced their price target on Landstar System from $147.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Wolfe Research downgraded Landstar System from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Evercore ISI reduced their target price on Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.25.

Landstar System Price Performance

NASDAQ:LSTR opened at $188.51 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40. The company has a fifty day moving average price of $184.37 and a 200 day moving average price of $182.58. The stock has a market cap of $6.74 billion, a P/E ratio of 29.00 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. Analysts anticipate that Landstar System, Inc. will post 5.85 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s dividend payout ratio (DPR) is presently 22.15%.

Landstar System Profile

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.