Confluence Wealth Services Inc. Buys 374 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Confluence Wealth Services Inc. grew its stake in Landstar System, Inc. (NASDAQ:LSTR) by 8.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,575 shares of the transportation company’s stock after purchasing an additional 374 shares during the period. Confluence Wealth Services Inc.’s holdings in Landstar System were worth $882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Landstar System by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock worth $668,993,000 after buying an additional 27,026 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Landstar System by 19.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock worth $270,024,000 after buying an additional 224,286 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Landstar System by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 555,085 shares of the transportation company’s stock worth $107,496,000 after buying an additional 21,395 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Landstar System by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 437,754 shares of the transportation company’s stock worth $84,771,000 after buying an additional 7,669 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Landstar System by 55.1% in the third quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after buying an additional 148,490 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Landstar System

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the sale, the vice president now owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

Landstar System Stock Down 1.6 %

NASDAQ LSTR traded down $2.82 during midday trading on Tuesday, hitting $174.41. 295,636 shares of the company traded hands, compared to its average volume of 277,062. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00. The company has a market cap of $6.24 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 4.69 and a beta of 0.83. The company’s 50-day simple moving average is $183.65 and its 200-day simple moving average is $183.53. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $208.62.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. As a group, equities research analysts forecast that Landstar System, Inc. will post 6.69 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.76%. Landstar System’s payout ratio is 20.31%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LSTR. Wells Fargo & Company increased their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Susquehanna reduced their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 10th. Benchmark restated a “hold” rating on shares of Landstar System in a report on Friday. Finally, Stifel Nicolaus reduced their price objective on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a report on Monday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $183.91.

Landstar System Company Profile

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.