Spectrum Asset Management Inc. NB CA Makes New $664,000 Investment in Landstar System, Inc. (NASDAQ:LSTR)

Spectrum Asset Management Inc. NB CA acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 4th quarter, Holdings Channel reports. The fund acquired 3,865 shares of the transportation company’s stock, valued at approximately $664,000.

Other large investors have also modified their holdings of the company. Trust Co. of Vermont purchased a new stake in Landstar System in the fourth quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Landstar System by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 70 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Landstar System by 27.9% in the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 158 shares during the period. Finally, Huntington National Bank boosted its stake in Landstar System by 11.5% during the 3rd quarter. Huntington National Bank now owns 924 shares of the transportation company’s stock worth $175,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Trading Down 0.5 %

Shares of LSTR opened at $161.16 on Friday. Landstar System, Inc. has a twelve month low of $159.87 and a twelve month high of $196.86. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.69 billion, a P/E ratio of 29.20 and a beta of 0.83. The firm’s 50-day moving average is $175.66 and its two-hundred day moving average is $181.51.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. On average, research analysts predict that Landstar System, Inc. will post 6.42 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s dividend payout ratio is currently 26.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LSTR shares. Evercore ISI reduced their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, UBS Group raised their price objective on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. 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, Landstar System has an average rating of “Hold” and a consensus price target of $170.40.

Landstar System 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.