Capital Fund Management S.A. Grows Holdings in Landstar System, Inc. $LSTR

Capital Fund Management S.A. grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,351 shares of the transportation company’s stock after purchasing an additional 9,734 shares during the period. Capital Fund Management S.A.’s holdings in Landstar System were worth $9,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners raised its position in shares of Landstar System by 14.2% in the second quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock valued at $197,310,000 after buying an additional 176,601 shares during the last quarter. First Trust Advisors LP grew its stake in Landstar System by 31.8% in the 3rd quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock worth $118,184,000 after acquiring an additional 232,682 shares during the period. JPMorgan Chase & Co. raised its holdings in Landstar System by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after acquiring an additional 21,163 shares during the last quarter. Reinhart Partners LLC. raised its holdings in Landstar System by 36.4% in the 3rd quarter. Reinhart Partners LLC. now owns 581,293 shares of the transportation company’s stock valued at $71,245,000 after acquiring an additional 155,260 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Landstar System by 9.4% during the 2nd quarter. Bank of America Corp DE now owns 406,872 shares of the transportation company’s stock worth $56,563,000 after purchasing an additional 34,871 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Trading Down 2.9%

Shares of LSTR opened at $144.42 on Friday. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $166.11. The firm has a market capitalization of $4.92 billion, a P/E ratio of 43.63 and a beta of 0.82. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $153.42 and its 200 day simple moving average is $138.99.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, February 18th. Landstar System’s dividend payout ratio (DPR) is 48.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Evercore raised their price objective on Landstar System from $125.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday, January 12th. Morgan Stanley increased their target price on Landstar System from $133.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Truist Financial decreased their price target on Landstar System from $150.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, January 29th. Stifel Nicolaus upped their price objective on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. Finally, Barclays increased their price objective on shares of Landstar System from $130.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, Landstar System has a consensus 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.