Jensen Investment Management Inc. Buys Shares of 6,250 Landstar System, Inc. $LSTR

Jensen Investment Management Inc. bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, Holdings Channel.com reports. The institutional investor bought 6,250 shares of the transportation company’s stock, valued at approximately $766,000.

A number of other institutional investors and hedge funds have also modified their holdings of LSTR. Peterson Wealth Services boosted its position in Landstar System by 1,108.4% during the 3rd quarter. Peterson Wealth Services now owns 10,960 shares of the transportation company’s stock worth $1,343,000 after acquiring an additional 10,053 shares during the period. Alps Advisors Inc. increased its holdings in shares of Landstar System by 69.8% in the 3rd quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company’s stock valued at $11,626,000 after purchasing an additional 38,992 shares during the period. Ballast Asset Management LP lifted its position in shares of Landstar System by 28.2% in the third quarter. Ballast Asset Management LP now owns 34,579 shares of the transportation company’s stock worth $4,238,000 after purchasing an additional 7,614 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in shares of Landstar System in the second quarter worth approximately $2,339,000. Finally, Fenimore Asset Management Inc boosted its holdings in shares of Landstar System by 231.3% during the third quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock worth $41,809,000 after purchasing an additional 238,173 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 0.8%

LSTR stock opened at $162.41 on Wednesday. The firm has a market cap of $5.58 billion, a PE ratio of 49.07 and a beta of 0.85. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $164.35. The company has a fifty day simple moving average of $149.03 and a 200 day simple moving average of $135.93. The company has a current ratio of 1.75, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 18th. Landstar System’s dividend payout ratio is 48.34%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings upgraded Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 27th. Evercore boosted their target price on Landstar System from $125.00 to $151.00 and gave the company an “in-line” rating in a research note on Monday, January 12th. Finally, Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $153.00.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.