Baird Financial Group Inc. Has $649,000 Stake in Landstar System, Inc. (NASDAQ:LSTR)

Baird Financial Group Inc. lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 24.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,776 shares of the transportation company’s stock after buying an additional 739 shares during the period. Baird Financial Group Inc.’s holdings in Landstar System were worth $649,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LSTR. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Landstar System by 16.1% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock worth $646,985,000 after purchasing an additional 521,695 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Landstar System during the fourth quarter worth approximately $63,816,000. Norges Bank acquired a new position in shares of Landstar System during the fourth quarter worth approximately $54,088,000. Corient Private Wealth LLC lifted its position in shares of Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock worth $50,509,000 after purchasing an additional 271,417 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Landstar System by 116.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company’s stock worth $47,205,000 after purchasing an additional 147,756 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Up 1.6%

Shares of NASDAQ:LSTR opened at $142.45 on Thursday. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The company has a market capitalization of $4.98 billion, a PE ratio of 25.81 and a beta of 0.92. The company has a 50 day moving average price of $142.07 and a two-hundred day moving average price of $162.84.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. Analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s dividend payout ratio is presently 26.09%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LSTR. Stifel Nicolaus dropped their price target on shares of Landstar System from $147.00 to $140.00 and set a “hold” rating for the company in a research note on Wednesday. TD Cowen dropped their price target on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Susquehanna dropped their price target on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Truist Financial dropped their price target on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group dropped their price target on shares of Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average target price of $153.08.

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.