Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,081,447 shares of the transportation company’s stock after buying an additional 31,519 shares during the quarter. Landstar System accounts for approximately 0.9% of Kayne Anderson Rudnick Investment Management LLC’s holdings, making the stock its 24th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 2.58% of Landstar System worth $92,572,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Landstar System by 1.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,308 shares of the transportation company’s stock valued at $502,000 after buying an additional 109 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Landstar System by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after buying an additional 17 shares during the period. Burney Co. raised its holdings in shares of Landstar System by 9.6% during the 2nd quarter. Burney Co. now owns 53,969 shares of the transportation company’s stock valued at $4,628,000 after buying an additional 4,709 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Landstar System by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock valued at $751,000 after buying an additional 40 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in shares of Landstar System by 1.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 725,059 shares of the transportation company’s stock valued at $62,065,000 after buying an additional 7,996 shares during the period. Institutional investors and hedge funds own 97.00% of the company’s stock.

Several brokerages recently commented on LSTR. Stifel Nicolaus upgraded Landstar System from a “hold” rating to a “buy” rating and raised their target price for the company from $87.00 to $95.00 in a report on Monday, July 31st. BidaskClub downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Thursday, July 6th. Cowen and Company reiterated a “hold” rating and set a $86.00 target price on shares of Landstar System in a report on Monday, August 28th. Finally, Morgan Stanley raised their target price on Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $87.63.

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Landstar System, Inc. (NASDAQ LSTR) traded up 1.07% during midday trading on Monday, reaching $94.35. The company’s stock had a trading volume of 548,631 shares. The stock has a 50 day moving average of $85.19 and a 200 day moving average of $85.29. The firm has a market capitalization of $3.96 billion, a PE ratio of 27.25 and a beta of 0.74. Landstar System, Inc. has a 52 week low of $65.05 and a 52 week high of $94.60.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. During the same quarter in the previous year, the firm earned $0.76 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Landstar System, Inc. will post $3.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, August 10th. This is a boost from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s payout ratio is currently 11.56%.

Landstar System Profile

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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