Legato Capital Management LLC Trims Position in Landstar System, Inc. (NASDAQ:LSTR)

Legato Capital Management LLC decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 63.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,092 shares of the transportation company’s stock after selling 8,803 shares during the period. Legato Capital Management LLC’s holdings in Landstar System were worth $875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LSTR. Wesbanco Bank Inc. increased its position in Landstar System by 9.5% during the third quarter. Wesbanco Bank Inc. now owns 2,888 shares of the transportation company’s stock worth $545,000 after purchasing an additional 250 shares during the last quarter. nVerses Capital LLC acquired a new position in Landstar System during the third quarter worth approximately $378,000. Cardinal Capital Management increased its position in Landstar System by 8.3% during the third quarter. Cardinal Capital Management now owns 21,534 shares of the transportation company’s stock worth $4,067,000 after purchasing an additional 1,655 shares during the last quarter. Blue Trust Inc. increased its position in Landstar System by 64.4% during the third quarter. Blue Trust Inc. now owns 1,774 shares of the transportation company’s stock worth $327,000 after purchasing an additional 695 shares during the last quarter. Finally, Raymond James & Associates increased its position in Landstar System by 3.0% during the third quarter. Raymond James & Associates now owns 150,764 shares of the transportation company’s stock worth $28,475,000 after purchasing an additional 4,345 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of several research analyst reports. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Susquehanna dropped their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. TD Cowen dropped their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, UBS Group increased their price objective on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus target price of $170.40.

Landstar System Price Performance

NASDAQ LSTR opened at $159.79 on Friday. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $5.65 billion, a PE ratio of 28.95 and a beta of 0.83. The company has a 50 day moving average price of $173.08 and a two-hundred day moving average price of $180.57. Landstar System, Inc. has a 12-month low of $157.99 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. As a group, equities analysts predict that Landstar System, Inc. will post 6.2 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s dividend payout ratio is 26.09%.

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.