Wesbanco Bank Inc. Has $669,000 Stake in Landstar System, Inc. (NASDAQ:LSTR)

Wesbanco Bank Inc. raised its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 34.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,890 shares of the transportation company’s stock after purchasing an additional 1,002 shares during the period. Wesbanco Bank Inc.’s holdings in Landstar System were worth $669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Trust Co. of Vermont bought a new position in shares of Landstar System during the fourth quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Landstar System by 431.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Landstar System in the 2nd quarter worth approximately $106,000. GAMMA Investing LLC boosted its stake in shares of Landstar System by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 70 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Landstar System during the second quarter worth $131,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Down 0.7 %

Landstar System stock opened at $176.17 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $178.44 and its two-hundred day moving average price is $182.34. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 30.22 and a beta of 0.83. Landstar System, Inc. has a 1-year low of $164.04 and a 1-year high of $200.43.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $1.71 EPS. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, January 7th. This is a boost from Landstar System’s previous special dividend of $1.50. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI lowered their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Wednesday, October 30th. Stephens cut their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, TD Cowen lowered their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus target price of $172.27.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

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.