Landstar System, Inc. (NASDAQ:LSTR) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,090 shares of the transportation company’s stock after purchasing an additional 200 shares during the quarter. Wesbanco Bank Inc.’s holdings in Landstar System were worth $614,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after buying an additional 521,695 shares during the period. Victory Capital Management Inc. increased its stake in shares of Landstar System by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after acquiring an additional 11,146 shares during the period. Geode Capital Management LLC raised its holdings in shares of Landstar System by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock worth $140,602,000 after purchasing an additional 4,392 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Landstar System by 15.6% during the fourth quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock worth $115,624,000 after purchasing an additional 90,672 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Landstar System by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company’s stock valued at $106,184,000 after purchasing an additional 9,190 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 2.3%

LSTR stock opened at $143.40 on Wednesday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 25.98 and a beta of 0.89. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week high of $196.86. The firm has a 50-day simple moving average of $138.07 and a 200-day simple moving average of $156.84. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Landstar System’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be paid a $0.40 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System’s dividend payout ratio is currently 31.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen cut their price target on Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their target price on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Evercore ISI reduced their price target on Landstar System from $137.00 to $136.00 and set an “in-line” rating for the company in a research report on Wednesday, May 14th. Barclays initiated coverage on Landstar System in a research report on Monday. They issued an “equal weight” rating and a $145.00 price objective on the stock. Finally, Truist Financial dropped their price objective on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus target price of $150.00.

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.