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

Proficio Capital Partners LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, HoldingsChannel reports. The firm acquired 49,244 shares of the transportation company’s stock, valued at approximately $8,463,000.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in Landstar System during the 4th quarter valued at $25,000. Trust Co. of Vermont bought a new stake in Landstar System during the 4th quarter valued at $34,000. TD Private Client Wealth LLC raised its position in Landstar System by 27.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 158 shares in the last quarter. Jones Financial Companies Lllp raised its position in Landstar System by 225.5% during the 4th quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock valued at $154,000 after purchasing an additional 620 shares in the last quarter. Finally, Huntington National Bank raised its position in Landstar System by 11.5% during the 3rd quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Trading Up 0.9 %

Shares of NASDAQ:LSTR opened at $150.41 on Friday. The business’s 50-day moving average is $163.83 and its 200 day moving average is $175.94. Landstar System, Inc. has a 1 year low of $147.59 and a 1 year high of $196.86. The firm has a market capitalization of $5.31 billion, a P/E ratio of 27.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share 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%. On average, research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a yield of 0.96%. Landstar System’s payout ratio is presently 26.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LSTR. JPMorgan Chase & Co. decreased their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Truist Financial began coverage on Landstar System in a research report on Thursday. They issued a “hold” rating and a $160.00 price target for the company. Stifel Nicolaus boosted their price target on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $169.45.

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.