Beaton Management Co. Inc. Buys New Stake in Landstar System, Inc. (NASDAQ:LSTR)

Beaton Management Co. Inc. bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,040 shares of the transportation company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mariner LLC lifted its position in Landstar System by 0.9% during the third quarter. Mariner LLC now owns 9,448 shares of the transportation company’s stock valued at $1,672,000 after acquiring an additional 87 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Landstar System during the 4th quarter valued at approximately $2,261,000. Vaughan Nelson Investment Management L.P. increased its stake in Landstar System by 4.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 277,741 shares of the transportation company’s stock valued at $53,784,000 after purchasing an additional 11,370 shares in the last quarter. Royal Bank of Canada increased its stake in Landstar System by 6.3% during the 3rd quarter. Royal Bank of Canada now owns 335,747 shares of the transportation company’s stock valued at $59,407,000 after purchasing an additional 19,920 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake 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 valued at $36,315,000 after purchasing an additional 79,536 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

NASDAQ LSTR traded up $1.87 during mid-day trading on Wednesday, reaching $180.81. 196,504 shares of the stock were exchanged, compared to its average volume of 272,985. The business’s 50 day moving average is $181.44 and its 200-day moving average is $184.77. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $208.62. The company has a market capitalization of $6.47 billion, a P/E ratio of 27.82, a P/E/G ratio of 5.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate 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 forecast that Landstar System, Inc. will post 6.31 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.73%. The ex-dividend date is Tuesday, May 7th. Landstar System’s payout ratio is 20.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LSTR. Stifel Nicolaus cut their price target on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Wells Fargo & Company increased their price objective on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Friday, April 26th. 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 research note on Friday, April 26th. Finally, Raymond James started coverage on shares of Landstar System in a research note on Wednesday, May 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Landstar System presently has an average rating of “Hold” and an average price target of $183.00.

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.