Landstar System, Inc. (NASDAQ:LSTR) Short Interest Update

by · The Markets Daily

Landstar System, Inc. (NASDAQ:LSTR – Get Free Report) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,316,980 shares, a growth of 32.3% from the January 29th total of 995,630 shares. Based on an average daily volume of 787,321 shares, the days-to-cover ratio is presently 1.7 days. Approximately 3.9% of the shares of the stock are sold short. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily volume of 787,321 shares, the days-to-cover ratio is presently 1.7 days.

Landstar System Stock Performance

Landstar System stock traded up $0.71 during midday trading on Monday, hitting $163.66. 591,525 shares of the company were exchanged, compared to its average volume of 635,751. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market capitalization of $5.57 billion, a PE ratio of 49.44 and a beta of 0.81. The business has a fifty day simple moving average of $150.48 and a two-hundred day simple moving average of $137.76. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $166.11.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 18th. Landstar System’s dividend payout ratio is 48.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp grew its holdings in shares of Landstar System by 151,424.4% in the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after purchasing an additional 6,290,171 shares during the period. Boston Partners raised its holdings in shares of Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after buying an additional 341,808 shares during the period. AQR Capital Management LLC increased its stake in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after purchasing an additional 641,319 shares during the period. First Trust Advisors LP lifted its holdings in Landstar System by 31.8% during the 3rd quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock worth $118,184,000 after buying an additional 232,682 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Landstar System by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after acquiring an additional 21,163 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LSTR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Susquehanna boosted their target price on shares of Landstar System from $110.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. increased their price objective on Landstar System from $134.00 to $162.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Stifel Nicolaus boosted their price target on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, January 14th. Finally, Truist Financial reduced their price target on Landstar System from $150.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $153.00.

Read Our Latest Research Report on Landstar System

About Landstar System

(Get Free Report)

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

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