8,900 Shares in Landstar System, Inc. (NASDAQ:LSTR) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,900 shares of the transportation company's stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LSTR. Victory Capital Management Inc. lifted its holdings in shares of Landstar System by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock worth $278,673,000 after purchasing an additional 11,146 shares during the period. State Street Corp raised its position in Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company's stock worth $211,130,000 after buying an additional 15,328 shares during the last quarter. Geode Capital Management LLC lifted its stake in Landstar System by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company's stock valued at $153,685,000 after acquiring an additional 39,223 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Landstar System by 10.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company's stock valued at $81,201,000 after acquiring an additional 41,758 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Landstar System by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 389,019 shares of the transportation company's stock valued at $66,857,000 after acquiring an additional 15,986 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

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Landstar System Price Performance

NASDAQ LSTR traded down $1.76 on Tuesday, hitting $148.44. The company had a trading volume of 111,028 shares, compared to its average volume of 274,198. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The company's fifty day moving average price is $158.95 and its 200-day moving average price is $173.37. The company has a market capitalization of $5.24 billion, a PE ratio of 26.89 and a beta of 0.82. Landstar System, Inc. has a 12-month low of $144.13 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. As a group, analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, February 18th. Landstar System's payout ratio is 26.09%.

Analyst Upgrades and Downgrades

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