Peterson Wealth Services Raises Stake in Landstar System, Inc. $LSTR

Peterson Wealth Services raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1,108.4% during the third quarter, HoldingsChannel reports. The firm owned 10,960 shares of the transportation company’s stock after buying an additional 10,053 shares during the period. Peterson Wealth Services’ holdings in Landstar System were worth $1,343,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Boston Partners increased its position in Landstar System by 14.2% in the 2nd quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock valued at $197,310,000 after acquiring an additional 176,601 shares during the period. First Trust Advisors LP grew its stake in shares of Landstar System by 6.8% in the 2nd quarter. First Trust Advisors LP now owns 731,615 shares of the transportation company’s stock valued at $101,709,000 after purchasing an additional 46,547 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Landstar System by 7.8% in the second quarter. JPMorgan Chase & Co. now owns 725,343 shares of the transportation company’s stock valued at $100,837,000 after purchasing an additional 52,392 shares during the period. Reinhart Partners LLC. raised its stake in shares of Landstar System by 36.4% during the third quarter. Reinhart Partners LLC. now owns 581,293 shares of the transportation company’s stock worth $71,245,000 after purchasing an additional 155,260 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Landstar System by 9.4% during the second 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. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Trading Up 6.3%

Shares of LSTR opened at $158.70 on Tuesday. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $164.35. The company has a current ratio of 1.75, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $5.45 billion, a P/E ratio of 47.95 and a beta of 0.85. The firm’s 50-day moving average is $145.46 and its two-hundred day moving average is $134.98.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. Landstar System’s dividend payout ratio is currently 48.34%.

Analyst Ratings Changes

Several equities analysts have issued reports on LSTR shares. Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Susquehanna boosted their price target on shares of Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. UBS Group lowered their price objective on Landstar System from $149.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Finally, Wells Fargo & Company upgraded Landstar System from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $170.00 in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average price target of $153.00.

Landstar System Profile

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.