Parthenon LLC Buys 1,222 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Parthenon LLC grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,997 shares of the transportation company’s stock after purchasing an additional 1,222 shares during the period. Landstar System makes up 1.4% of Parthenon LLC’s investment portfolio, making the stock its 22nd largest holding. Parthenon LLC’s holdings in Landstar System were worth $11,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Verition Fund Management LLC lifted its holdings in Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after buying an additional 12,931 shares during the period. ING Groep NV purchased a new position in shares of Landstar System in the 3rd quarter valued at approximately $1,228,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Landstar System by 419.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock valued at $695,000 after purchasing an additional 2,973 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Landstar System by 3,775.2% during the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Finally, FMR LLC grew its stake in Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock worth $30,639,000 after purchasing an additional 12,894 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of several recent research reports. Stifel Nicolaus raised their price objective on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. TD Cowen lowered their price target on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Susquehanna cut their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. Finally, Evercore ISI dropped their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $170.40.

Landstar System Trading Down 2.6 %

Shares of NASDAQ:LSTR opened at $158.38 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. Landstar System, Inc. has a 1 year low of $157.99 and a 1 year high of $196.86. The company has a market cap of $5.60 billion, a P/E ratio of 28.69 and a beta of 0.83. The stock’s fifty day moving average price is $170.61 and its 200-day moving average price is $179.57.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Sell-side analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is presently 26.09%.

Landstar System Company 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.