Corebridge Financial Inc. Sells 1,950 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Corebridge Financial Inc. decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,976 shares of the transportation company's stock after selling 1,950 shares during the period. Corebridge Financial Inc. owned about 0.11% of Landstar System worth $6,870,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Landstar System by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company's stock worth $68,494,000 after acquiring an additional 948 shares in the last quarter. Citigroup Inc. lifted its holdings in Landstar System by 21.2% during the 3rd quarter. Citigroup Inc. now owns 19,184 shares of the transportation company's stock valued at $3,623,000 after purchasing an additional 3,354 shares during the last quarter. Cerity Partners LLC boosted its position in Landstar System by 63.4% in the third quarter. Cerity Partners LLC now owns 5,507 shares of the transportation company's stock valued at $1,040,000 after buying an additional 2,137 shares in the last quarter. Bank of Montreal Can grew its stake in Landstar System by 191.4% during the third quarter. Bank of Montreal Can now owns 25,654 shares of the transportation company's stock worth $4,796,000 after buying an additional 16,850 shares during the last quarter. Finally, FMR LLC grew its stake in Landstar System by 8.6% during the third quarter. FMR LLC now owns 162,222 shares of the transportation company's stock worth $30,639,000 after buying an additional 12,894 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Landstar System Trading Up 0.7 %

Shares of Landstar System stock traded up $1.13 during trading on Wednesday, reaching $151.19. 37,858 shares of the company were exchanged, compared to its average volume of 274,068. Landstar System, Inc. has a twelve month low of $144.13 and a twelve month high of $196.86. The business has a 50-day moving average price of $158.40 and a 200-day moving average price of $173.14. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 27.39 and a beta of 0.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 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%. Sell-side analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given 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 0.95%. Landstar System's dividend payout ratio is presently 26.09%.

Analyst Ratings Changes

A number of research firms recently commented on LSTR. JPMorgan Chase & Co. decreased their price target on Landstar System from $184.00 to $177.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Susquehanna decreased their target price on Landstar System from $150.00 to $130.00 and set a "neutral" rating on the stock in a report on Wednesday, March 26th. Truist Financial started coverage on Landstar System in a report on Thursday, March 13th. They issued a "hold" rating and a $160.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Finally, Benchmark reiterated a "hold" rating on shares of Landstar System in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $166.73.

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.