Quantum Capital Management LLC NJ Has $31.97 Million Position in Landstar System, Inc. $LSTR

Quantum Capital Management LLC NJ lessened its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,878 shares of the transportation company’s stock after selling 61,397 shares during the period. Landstar System makes up about 3.5% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 15th largest holding. Quantum Capital Management LLC NJ’s holdings in Landstar System were worth $31,973,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vestmark Advisory Solutions Inc. raised its position in Landstar System by 0.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock valued at $2,523,000 after purchasing an additional 78 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of Landstar System by 0.4% in the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock valued at $2,981,000 after purchasing an additional 90 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Landstar System by 9.7% in the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 100 shares in the last quarter. MAI Capital Management increased its stake in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 107 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of Landstar System by 4.9% in the 2nd quarter. Vident Advisory LLC now owns 2,313 shares of the transportation company’s stock valued at $322,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company upgraded Landstar System from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $145.00 to $170.00 in a research report on Tuesday, January 6th. Robert W. Baird set a $164.00 target price on Landstar System in a research report on Friday, January 30th. Weiss Ratings raised Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Truist Financial dropped their target price on shares of Landstar System from $150.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, January 29th. Finally, Morgan Stanley raised their price target on shares of Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $153.00.

Landstar System Stock Down 4.8%

Shares of LSTR opened at $151.82 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $166.11. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 45.87 and a beta of 0.82. The stock has a fifty day moving average of $153.04 and a 200-day moving average of $138.54.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 18th. Landstar System’s dividend payout ratio is presently 48.34%.

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.