Fenimore Asset Management Inc Buys 145,035 Shares of Landstar System, Inc. $LSTR

Fenimore Asset Management Inc raised its stake in Landstar System, Inc. (NASDAQ:LSTR) by 42.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 486,165 shares of the transportation company’s stock after acquiring an additional 145,035 shares during the period. Landstar System comprises about 1.5% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 29th largest position. Fenimore Asset Management Inc’s holdings in Landstar System were worth $69,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in LSTR. Quarry LP bought a new stake in shares of Landstar System in the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its position in shares of Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after buying an additional 225 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Landstar System by 1,490.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after buying an additional 298 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of Landstar System by 81.0% in the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock valued at $40,000 after buying an additional 124 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the topic of a number of analyst reports. Truist Financial upped their price target on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday. Stifel Nicolaus upped their price target on Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday. Evercore set a $181.00 target price on Landstar System in a research report on Wednesday. Robert W. Baird set a $193.00 target price on Landstar System in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $178.45.

Landstar System Stock Down 1.4%

Shares of Landstar System stock opened at $181.56 on Friday. Landstar System, Inc. has a one year low of $119.32 and a one year high of $195.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.75. The stock’s 50-day moving average is $162.01 and its 200 day moving average is $148.35. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 50.15 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Landstar System, Inc. will post 5.55 EPS for the current year.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.9%. Landstar System’s dividend payout ratio is presently 44.20%.

Landstar System declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

About Landstar System

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.