Confluence Wealth Services Inc. Boosts Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Confluence Wealth Services Inc. increased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,575 shares of the transportation company’s stock after acquiring an additional 374 shares during the period. Confluence Wealth Services Inc.’s holdings in Landstar System were worth $882,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LSTR. Norges Bank purchased a new stake in shares of Landstar System during the fourth quarter worth approximately $64,175,000. Victory Capital Management Inc. increased its stake in shares of Landstar System by 19.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock worth $270,024,000 after buying an additional 224,286 shares during the period. Invesco Ltd. increased its stake in shares of Landstar System by 55.1% during the third quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after buying an additional 148,490 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Landstar System by 63.3% during the third quarter. Qube Research & Technologies Ltd now owns 205,239 shares of the transportation company’s stock worth $36,315,000 after buying an additional 79,536 shares during the period. Finally, UBS Group AG increased its stake in shares of Landstar System by 359.9% during the fourth quarter. UBS Group AG now owns 80,077 shares of the transportation company’s stock worth $15,507,000 after buying an additional 62,667 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR stock traded down $2.82 during trading hours on Tuesday, hitting $174.41. The stock had a trading volume of 295,636 shares, compared to its average volume of 277,062. The firm has a market capitalization of $6.24 billion, a PE ratio of 26.83, a PEG ratio of 4.69 and a beta of 0.83. Landstar System, Inc. has a twelve month low of $161.13 and a twelve month high of $208.62. The stock’s 50 day moving average is $183.65 and its 200 day moving average is $183.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. As a group, research analysts forecast that Landstar System, Inc. will post 6.69 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s payout ratio is currently 20.31%.

Insider Activity

In related news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the sale, the vice president now directly owns 61,127 shares of the company’s stock, valued at $11,632,468.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LSTR shares. Susquehanna cut their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Friday. UBS Group increased their price target on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus dropped their price target on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research note on Monday. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $183.91.

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.