Landstar System, Inc. (NASDAQ:LSTR) Short Interest Down 19.5% in March

Landstar System, Inc. (NASDAQ:LSTR) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 981,900 shares, a decrease of 19.5% from the March 15th total of 1,220,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 355,100 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LSTR. MML Investors Services LLC boosted its holdings in shares of Landstar System by 17.7% in the third quarter. MML Investors Services LLC now owns 3,551 shares of the transportation company’s stock valued at $671,000 after acquiring an additional 534 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Landstar System by 24.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,655 shares of the transportation company’s stock worth $1,203,000 after buying an additional 1,319 shares in the last quarter. World Investment Advisors LLC bought a new position in Landstar System during the third quarter valued at about $4,036,000. Tidal Investments LLC boosted its position in shares of Landstar System by 9.3% during the 3rd quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company’s stock valued at $1,899,000 after purchasing an additional 857 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Landstar System by 28.1% during the third quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company’s stock valued at $11,000,000 after purchasing an additional 12,756 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Down 1.7 %

Shares of NASDAQ LSTR traded down $2.29 during trading on Monday, reaching $135.53. 354,476 shares of the stock were exchanged, compared to its average volume of 283,157. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 24.55 and a beta of 0.88. The business’s 50-day moving average price is $149.63 and its 200 day moving average price is $168.41. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. Landstar System has a twelve month low of $128.99 and a twelve month high of $196.86.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. As a group, equities analysts forecast that Landstar System will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LSTR shares. Stifel Nicolaus dropped their price objective on shares of Landstar System from $162.00 to $147.00 and set a “hold” rating for the company in a report on Monday, April 14th. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Jefferies Financial Group decreased their price objective on Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Susquehanna cut their target price on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Truist Financial lowered their price target on shares of Landstar System from $160.00 to $150.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $156.92.

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.