Nutshell Asset Management Ltd Invests $5.45 Million in Landstar System, Inc. (NASDAQ:LSTR)

Nutshell Asset Management Ltd acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,700 shares of the transportation company's stock, valued at approximately $5,448,000. Landstar System accounts for about 3.4% of Nutshell Asset Management Ltd's portfolio, making the stock its 14th largest holding. Nutshell Asset Management Ltd owned approximately 0.09% of Landstar System as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Landstar System in the 4th quarter worth about $63,816,000. Norges Bank acquired a new stake in shares of Landstar System during the fourth quarter worth approximately $54,088,000. Corient Private Wealth LLC raised its stake in shares of Landstar System by 1,207.3% in the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock valued at $50,509,000 after acquiring an additional 271,417 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Landstar System in the 4th quarter worth approximately $8,463,000. Finally, Boston Trust Walden Corp grew its position in Landstar System by 21.1% during the 4th quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company's stock worth $47,695,000 after acquiring an additional 48,312 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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Landstar System Trading Down 1.6 %

NASDAQ:LSTR traded down $2.21 during mid-day trading on Thursday, hitting $138.90. The company had a trading volume of 246,850 shares, compared to its average volume of 279,781. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86. The firm has a market cap of $4.91 billion, a P/E ratio of 24.90 and a beta of 0.88. The business's fifty day moving average is $152.86 and its two-hundred day moving average is $170.81.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data 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, research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. Landstar System's dividend payout ratio (DPR) is currently 26.09%.

Analysts Set New Price Targets

LSTR has been the subject of several research analyst reports. Truist Financial cut their price objective on Landstar System from $160.00 to $150.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Stifel Nicolaus increased their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Finally, Benchmark reaffirmed a "hold" rating on shares of Landstar System in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat, Landstar System presently has an average rating of "Hold" and a consensus target price of $159.55.

Landstar System 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.