Proficio Capital Partners LLC Takes $8.46 Million Position in Landstar System, Inc. (NASDAQ:LSTR)

Proficio Capital Partners LLC purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,244 shares of the transportation company’s stock, valued at approximately $8,463,000. Proficio Capital Partners LLC owned approximately 0.14% of Landstar System at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Verition Fund Management LLC boosted its position in shares of Landstar System by 28.1% during the 3rd quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after purchasing an additional 12,931 shares in the last quarter. ING Groep NV acquired a new stake in shares of Landstar System in the third quarter valued at about $1,228,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Landstar System by 419.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock worth $695,000 after buying an additional 2,973 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Landstar System by 3,775.2% during the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock worth $63,243,000 after buying an additional 326,212 shares during the period. Finally, FMR LLC increased its holdings in Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock valued at $30,639,000 after buying an additional 12,894 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Price Performance

NASDAQ:LSTR opened at $158.80 on Monday. Landstar System, Inc. has a 12-month low of $152.73 and a 12-month high of $196.86. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 28.77 and a beta of 0.83. The company’s 50-day moving average is $167.56 and its two-hundred day moving average is $178.13. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Research analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.44 annualized dividend and a yield of 0.91%. Landstar System’s payout ratio is currently 26.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Benchmark restated a “hold” rating on shares of Landstar System in a report on Friday, January 31st. Stifel Nicolaus upped their target price on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $170.40.

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.