Apollon Wealth Management LLC Increases Position in Landstar System, Inc. (NASDAQ:LSTR)

Apollon Wealth Management LLC increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 119.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,873 shares of the transportation company’s stock after buying an additional 2,652 shares during the quarter. Apollon Wealth Management LLC’s holdings in Landstar System were worth $944,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LSTR. Victory Capital Management Inc. grew its holdings in shares of Landstar System by 19.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock valued at $270,024,000 after buying an additional 224,286 shares during the last quarter. Invesco Ltd. grew its position in Landstar System by 55.1% during the 3rd quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after purchasing an additional 148,490 shares during the period. Qube Research & Technologies Ltd grew its position in Landstar System by 63.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 205,239 shares of the transportation company’s stock worth $36,315,000 after purchasing an additional 79,536 shares during the period. Allspring Global Investments Holdings LLC grew its position in Landstar System by 185.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 94,243 shares of the transportation company’s stock worth $16,675,000 after purchasing an additional 61,260 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Landstar System by 49.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 156,879 shares of the transportation company’s stock worth $27,758,000 after purchasing an additional 51,669 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LSTR shares. Wells Fargo & Company raised their target price on Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Stifel Nicolaus dropped their target price on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Susquehanna dropped their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Friday, April 26th. Finally, UBS Group raised their price target on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus price target of $183.91.

Landstar System Stock Up 1.6 %

LSTR stock opened at $182.49 on Friday. The firm has a market cap of $6.53 billion, a PE ratio of 28.08, a PEG ratio of 4.91 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.22. The firm’s 50 day moving average price is $181.73 and its 200-day moving average price is $183.62. Landstar System, Inc. has a one year low of $161.13 and a one year high of $208.62.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. On average, equities research analysts anticipate that Landstar System, Inc. will post 6.49 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s payout ratio is presently 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.