TD Asset Management Inc Increases Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

TD Asset Management Inc increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 36.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,638 shares of the transportation company’s stock after purchasing an additional 7,700 shares during the quarter. TD Asset Management Inc owned 0.08% of Landstar System worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LSTR. Your Advocates Ltd. LLP boosted its stake in shares of Landstar System by 500.0% in the second quarter. Your Advocates Ltd. LLP now owns 150 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 125 shares during the period. Belpointe Asset Management LLC boosted its stake in shares of Landstar System by 150.7% in the first quarter. Belpointe Asset Management LLC now owns 356 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 214 shares during the period. Trivant Custom Portfolio Group LLC purchased a new position in shares of Landstar System in the first quarter valued at $79,000. Bessemer Group Inc. boosted its stake in shares of Landstar System by 56.5% in the first quarter. Bessemer Group Inc. now owns 778 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 281 shares during the period. Finally, Spire Wealth Management boosted its stake in Landstar System by 60.9% during the 1st quarter. Spire Wealth Management now owns 793 shares of the transportation company’s stock valued at $142,000 after acquiring an additional 300 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Trading Up 0.2 %

Landstar System stock opened at $173.29 on Tuesday. The firm’s 50-day moving average is $174.71 and its 200-day moving average is $184.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Landstar System, Inc. has a 1 year low of $160.05 and a 1 year high of $208.62. The company has a market cap of $6.23 billion, a P/E ratio of 20.80 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.01. Landstar System had a net margin of 5.19% and a return on equity of 31.06%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted $2.76 EPS. The company’s revenue for the quarter was down 29.0% on a year-over-year basis. On average, equities analysts expect that Landstar System, Inc. will post 7.43 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.76%. Landstar System’s dividend payout ratio (DPR) is presently 15.85%.

Analyst Ratings Changes

LSTR has been the topic of a number of research analyst reports. Susquehanna reduced their price objective on shares of Landstar System from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 3rd. Evercore ISI reduced their price objective on shares of Landstar System from $180.00 to $178.00 in a research note on Wednesday, September 27th. Robert W. Baird increased their price objective on shares of Landstar System from $175.00 to $200.00 in a research note on Friday, July 28th. Morgan Stanley reduced their price objective on shares of Landstar System from $150.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. Finally, StockNews.com initiated coverage on shares of Landstar System in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average target price of $186.60.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.