Curated Wealth Partners LLC Acquires 4,518 Shares of Landstar System, Inc. $LSTR

Curated Wealth Partners LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 4,518 shares of the transportation company’s stock, valued at approximately $762,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Landstar System during the second quarter valued at approximately $698,683,000. First Trust Advisors LP lifted its stake in shares of Landstar System by 19.1% in the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after acquiring an additional 179,294 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Landstar System by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the transportation company’s stock valued at $109,506,000 after purchasing an additional 15,825 shares during the last quarter. Fenimore Asset Management Inc increased its stake in shares of Landstar System by 0.4% in the third quarter. Fenimore Asset Management Inc now owns 508,778 shares of the transportation company’s stock valued at $85,803,000 after buying an additional 2,193 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Landstar System during the 2nd quarter worth approximately $68,507,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Trading Up 1.9%

NASDAQ LSTR opened at $172.46 on Friday. Landstar System, Inc. has a one year low of $121.11 and a one year high of $228.46. The business’s fifty day moving average is $175.15 and its 200-day moving average is $186.63. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 44.68 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Landstar System, Inc. will post 5.88 EPS for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 18th. Landstar System’s dividend payout ratio (DPR) is 45.60%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LSTR shares. Barclays boosted their price objective on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. Morgan Stanley reissued an “underweight” rating and set a $145.00 target price on shares of Landstar System in a research note on Monday, July 6th. Stephens upgraded Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price target on Landstar System from $204.00 to $181.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Finally, Stifel Nicolaus raised their price objective on shares of Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average target price of $191.14.

About Landstar System

Landstar System, Inc is a transportation and logistics company that provides asset-light freight transportation services through a network of independent agents, third-party capacity providers and company employees. The company coordinates the movement of freight for customers across a range of industries, matching shipments with available transportation resources.

Landstar’s services include truckload transportation, expedited and time-critical delivery, less-than-truckload shipping, heavy-haul and specialized transport, and freight brokerage.