Landstar System, Inc. $LSTR Position Increased by Reinhart Partners LLC.

Reinhart Partners LLC. boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 13.7% during the 4th quarter, Holdings Channel reports. The fund owned 661,078 shares of the transportation company’s stock after acquiring an additional 79,785 shares during the quarter. Landstar System comprises 2.8% of Reinhart Partners LLC.’s portfolio, making the stock its 14th largest holding. Reinhart Partners LLC.’s holdings in Landstar System were worth $94,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC increased its position in Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after acquiring an additional 336 shares during the period. Goldman Sachs Group Inc. increased its position in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after acquiring an additional 50,142 shares during the period. Empowered Funds LLC increased its position in Landstar System by 38.3% in the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Landstar System by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after acquiring an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in 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 acquiring an additional 142 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LSTR shares. Weiss Ratings upgraded Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. TD Cowen raised their target price on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Wells Fargo & Company raised their target price on Landstar System from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised 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, April 29th. Finally, UBS Group lifted their price target on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $179.36.

Landstar System Stock Performance

LSTR opened at $212.94 on Wednesday. The firm has a market cap of $7.23 billion, a PE ratio of 58.82 and a beta of 0.88. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $176.08 and a 200-day simple moving average of $156.73. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $215.14.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, equities analysts predict that Landstar System, Inc. will post 5.55 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is 44.20%.

Landstar System announced that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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.