Kayne Anderson Rudnick Investment Management LLC Raises Stake in Landstar System, Inc. (NASDAQ:LSTR)

Kayne Anderson Rudnick Investment Management LLC boosted its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,764,603 shares of the transportation company's stock after acquiring an additional 521,695 shares during the period. Landstar System accounts for approximately 1.5% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 15th largest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 10.66% of Landstar System worth $646,985,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its stake in shares of Landstar System by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 19,913 shares of the transportation company's stock valued at $3,422,000 after buying an additional 1,587 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Landstar System by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock worth $106,184,000 after acquiring an additional 9,190 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Landstar System by 28.9% in the fourth quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock worth $90,398,000 after acquiring an additional 117,961 shares during the period. Farringdon Capital Ltd. purchased a new position in shares of Landstar System in the fourth quarter valued at $331,000. Finally, Ontario Teachers Pension Plan Board grew its position in shares of Landstar System by 86.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,297 shares of the transportation company's stock valued at $2,801,000 after purchasing an additional 7,560 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LSTR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Susquehanna reduced their price objective on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Stifel Nicolaus lowered their target price on shares of Landstar System from $162.00 to $147.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group reduced their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Truist Financial lowered their price objective on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. According to data from MarketBeat, Landstar System currently has a consensus rating of "Hold" and an average price target of $155.67.

Landstar System Trading Up 1.2 %

Shares of NASDAQ:LSTR traded up $1.65 during trading on Thursday, reaching $139.92. 398,543 shares of the company traded hands, compared to its average volume of 284,396. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 52-week low of $128.99 and a 52-week high of $196.86. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 25.35 and a beta of 0.88. The business's fifty day moving average is $148.23 and its 200-day moving average is $167.70.

Landstar System (NASDAQ:LSTR - Get Free Report) last released 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, analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current year.

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.