Wedge Capital Management L L P NC Has $3.36 Million Position in Landstar System, Inc. (NASDAQ:LSTR)

Wedge Capital Management L L P NC increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,805 shares of the transportation company’s stock after purchasing an additional 99 shares during the period. Wedge Capital Management L L P NC’s holdings in Landstar System were worth $3,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LSTR. Vanguard Group Inc. raised its holdings in shares of Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after buying an additional 25,387 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Landstar System by 6.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after buying an additional 99,461 shares in the last quarter. Boston Partners grew its position in Landstar System by 1.0% in the first quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock valued at $305,671,000 after acquiring an additional 15,424 shares during the period. Dimensional Fund Advisors LP raised its stake in Landstar System by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after acquiring an additional 37,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Landstar System by 2.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock worth $82,755,000 after acquiring an additional 10,538 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Trading Down 0.3 %

Shares of LSTR opened at $188.51 on Wednesday. The stock’s fifty day simple moving average is $184.37 and its 200-day simple moving average is $182.58. The firm has a market capitalization of $6.74 billion, a PE ratio of 29.00 and a beta of 0.80. Landstar System, Inc. has a 12-month low of $161.13 and a 12-month high of $201.40. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company posted $1.85 EPS. The company’s revenue was down 10.8% compared to the same quarter last year. As a group, research analysts predict that Landstar System, Inc. will post 5.85 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, August 20th. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is currently 22.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on LSTR. Wolfe Research lowered shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. Evercore ISI cut their target price on shares of Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group reduced their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Finally, Stifel Nicolaus dropped their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $177.25.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It 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 and less-than-truckload services.