Meeder Asset Management Inc. Invests $134,000 in Landstar System, Inc. (NASDAQ:LSTR)

Meeder Asset Management Inc. purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, HoldingsChannel reports. The firm purchased 728 shares of the transportation company’s stock, valued at approximately $134,000.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Landstar System during the 4th quarter worth about $64,175,000. Victory Capital Management Inc. raised 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 worth $313,080,000 after purchasing an additional 99,461 shares in the last quarter. UBS Group AG raised its stake in Landstar System by 359.9% in the 4th quarter. UBS Group AG now owns 80,077 shares of the transportation company’s stock worth $15,507,000 after purchasing an additional 62,667 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Landstar System by 21.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 337,271 shares of the transportation company’s stock valued at $65,013,000 after purchasing an additional 59,530 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Landstar System by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after purchasing an additional 42,740 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LSTR. Susquehanna boosted their price target on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus cut their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Morgan Stanley decreased their price target on Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Evercore ISI boosted their target price on shares of Landstar System from $161.00 to $173.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, TD Cowen raised their target price on Landstar System from $171.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $179.73.

Landstar System Stock Up 0.1 %

NASDAQ:LSTR opened at $182.37 on Friday. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market cap of $6.47 billion, a PE ratio of 28.06 and a beta of 0.80. The firm’s 50 day simple moving average is $184.62 and its 200 day simple moving average is $182.97.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. Landstar System’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, research analysts anticipate that Landstar System, Inc. will post 5.87 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Landstar System’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 20th. Landstar System’s dividend payout ratio (DPR) is 22.15%.

Landstar System Company Profile

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.