Central Pacific Bank Trust Division Takes $602,000 Position in Landstar System, Inc. (NASDAQ:LSTR)

Central Pacific Bank Trust Division purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 3,172 shares of the transportation company’s stock, valued at approximately $602,000.

Other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC boosted its stake in shares of Landstar System by 327.4% in the 1st quarter. FORA Capital LLC now owns 6,022 shares of the transportation company’s stock worth $1,161,000 after buying an additional 4,613 shares during the last quarter. Quent Capital LLC boosted its position in Landstar System by 10.5% in the first quarter. Quent Capital LLC now owns 918 shares of the transportation company’s stock worth $177,000 after purchasing an additional 87 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Landstar System in the first quarter worth $86,000. Capstone Investment Advisors LLC grew its stake in Landstar System by 51.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 5,943 shares of the transportation company’s stock valued at $1,146,000 after purchasing an additional 2,006 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Landstar System by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 16,177 shares of the transportation company’s stock valued at $3,118,000 after purchasing an additional 4,327 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Performance

Shares of NASDAQ LSTR traded up $2.00 during mid-day trading on Wednesday, hitting $175.24. The company had a trading volume of 6,176 shares, compared to its average volume of 267,165. The stock’s 50-day moving average price is $181.21 and its 200-day moving average price is $185.51. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 26.65 and a beta of 0.80. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $208.62.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. On average, sell-side analysts forecast that Landstar System, Inc. will post 6.31 earnings per share for the current year.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th were issued a $0.33 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.75%. Landstar System’s payout ratio is currently 20.31%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Morgan Stanley dropped their target price on shares of Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday. Evercore ISI raised their price target on shares of Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Friday, April 26th. Finally, Susquehanna decreased their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $182.55.

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.