Landstar System, Inc. (NASDAQ:LSTR) Short Interest Update

Landstar System, Inc. (NASDAQ:LSTR) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,316,980 shares, a growth of 32.3% from the January 29th total of 995,630 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 787,321 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 787,321 shares, the short-interest ratio is currently 1.7 days. Approximately 3.9% of the shares of the company are sold short.

Analyst Ratings Changes

Several research firms have recently commented on LSTR. TD Cowen reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, January 9th. JPMorgan Chase & Co. boosted their target price 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. Weiss Ratings upgraded shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Wells Fargo & Company raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company 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 assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $153.00.

Landstar System Price Performance

NASDAQ:LSTR traded up $1.21 on Wednesday, reaching $164.51. 412,764 shares of the company’s stock traded hands, compared to its average volume of 624,608. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $151.94 and a 200-day simple moving average of $138.19. The firm has a market cap of $5.60 billion, a PE ratio of 49.70 and a beta of 0.82. Landstar System has a 12 month low of $119.32 and a 12 month high of $166.11.

Landstar System Announces Dividend

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

Hedge Funds Weigh In On Landstar System

Hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in shares of Landstar System during the fourth quarter worth $25,000. Quarry LP purchased a new stake in Landstar System in the 3rd quarter worth $25,000. Global Retirement Partners LLC boosted its holdings in shares of Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Landstar System by 79.3% during 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, UMB Bank n.a. grew its position in shares of Landstar System by 335.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.