Landstar System, Inc. (NASDAQ:LSTR – Get Free Report) announced a quarterly dividend on Tuesday, January 23rd, Zacks reports. Shareholders of record on Monday, February 12th will be paid a dividend of 0.33 per share by the transportation company on Friday, March 8th. This represents a $1.32 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, February 9th.
Landstar System has raised its dividend payment by an average of 16.8% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Landstar System has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $8.51 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.5%.
Landstar System Stock Up 0.5 %
Shares of LSTR opened at $193.69 on Wednesday. The firm has a market cap of $6.96 billion, a P/E ratio of 26.35 and a beta of 0.85. The stock has a 50 day simple moving average of $189.82 and a two-hundred day simple moving average of $184.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.08. Landstar System has a 1 year low of $161.13 and a 1 year high of $208.62.
Insider Transactions at Landstar System
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in LSTR. Morgan Stanley increased its holdings in shares of Landstar System by 756.6% in the fourth quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock valued at $496,178,000 after purchasing an additional 2,690,326 shares during the period. Norges Bank acquired a new position in shares of Landstar System in the fourth quarter valued at about $54,341,000. Renaissance Technologies LLC acquired a new position in shares of Landstar System in the first quarter valued at about $26,416,000. Northern Trust Corp increased its holdings in shares of Landstar System by 21.5% in the first quarter. Northern Trust Corp now owns 559,782 shares of the transportation company’s stock valued at $84,432,000 after purchasing an additional 98,958 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Landstar System by 311.8% in the fourth quarter. Point72 Asset Management L.P. now owns 120,250 shares of the transportation company’s stock valued at $19,589,000 after purchasing an additional 91,050 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. UBS Group increased their target price on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Stephens decreased their price objective on Landstar System from $210.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. JPMorgan Chase & Co. initiated coverage on Landstar System in a research note on Monday, December 11th. They set a “neutral” rating and a $186.00 target price on the stock. Finally, Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price for the company in a report on Wednesday, January 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $185.00.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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