Landstar System, Inc. (NASDAQ:LSTR) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management grew its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,367 shares of the transportation company’s stock after purchasing an additional 2,126 shares during the quarter. Cardinal Capital Management’s holdings in Landstar System were worth $3,733,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LSTR. Bridge City Capital LLC lifted its stake in shares of Landstar System by 0.8% during the first quarter. Bridge City Capital LLC now owns 16,936 shares of the transportation company’s stock worth $3,265,000 after purchasing an additional 131 shares in the last quarter. Mather Group LLC. purchased a new position in Landstar System in the 1st quarter worth approximately $27,000. Vanguard Group Inc. boosted its holdings in Landstar System by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock worth $668,993,000 after acquiring an additional 27,026 shares during the period. Prudential PLC acquired a new stake in Landstar System in the fourth quarter valued at approximately $3,511,000. Finally, CenterBook Partners LP purchased a new stake in shares of Landstar System during the fourth quarter valued at approximately $577,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LSTR shares. Evercore ISI boosted their price objective on shares of Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a report on Tuesday. Susquehanna dropped their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Friday, April 26th. Raymond James started coverage on Landstar System in a research note on Wednesday, May 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price target on Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a report on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $182.55.

Landstar System Stock Performance

Landstar System stock traded up $0.01 during midday trading on Thursday, reaching $182.56. 227,828 shares of the stock traded hands, compared to its average volume of 264,241. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $208.62. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 28.08 and a beta of 0.83. The firm has a fifty day moving average price of $179.69 and a two-hundred day moving average price of $186.10.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. On average, equities research analysts forecast that Landstar System, Inc. will post 6.31 earnings per share for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Wednesday, May 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Tuesday, May 7th. Landstar System’s dividend payout ratio is currently 20.31%.

About Landstar System

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.