Landstar System, Inc. (NASDAQ:LSTR) Short Interest Up 32.3% in February

Landstar System, Inc. (NASDAQ:LSTR) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 1,316,980 shares, an increase 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 short sold. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily volume of 787,321 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LSTR. Wall Street Zen raised shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Robert W. Baird set a $164.00 target price on Landstar System in a report on Friday, January 30th. TD Cowen restated a “hold” rating on shares of Landstar System in a research report on Friday, January 9th. Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.00.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded down $0.36 during midday trading on Tuesday, hitting $163.30. The company had a trading volume of 394,274 shares, compared to its average volume of 629,882. Landstar System has a twelve month low of $119.32 and a twelve month high of $166.11. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 49.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business’s 50-day simple moving average is $150.48 and its 200-day simple moving average is $137.76.

Landstar System Announces Dividend

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

Institutional Trading of Landstar System

Several institutional investors have recently made changes to their positions in LSTR. M&T Bank Corp grew its position in 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 worth $904,495,000 after acquiring an additional 6,290,171 shares during the period. AQR Capital Management LLC grew its holdings in shares of Landstar System by 185.5% during the 4th 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. Millennium Management LLC increased its position in shares of Landstar System by 910.2% during the 4th quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after purchasing an additional 488,238 shares during the last quarter. Bank of Montreal Can raised its holdings in Landstar System by 5,643.4% in the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock valued at $55,577,000 after buying an additional 380,024 shares during the period. Finally, Corient Private Wealth LLC lifted its position in Landstar System by 99.5% in the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after buying an additional 370,253 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Company Profile

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.