LPL Financial LLC Raises Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

LPL Financial LLC grew its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,715 shares of the transportation company's stock after buying an additional 4,728 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Landstar System worth $3,755,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Landstar System by 1.4% in the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company's stock valued at $211,130,000 after purchasing an additional 15,328 shares during the period. Nisa Investment Advisors LLC boosted its stake in Landstar System by 22.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company's stock worth $2,935,000 after acquiring an additional 3,150 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Landstar System by 346.8% during the third quarter. National Bank of Canada FI now owns 6,179 shares of the transportation company's stock valued at $1,167,000 after purchasing an additional 4,796 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Landstar System by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company's stock worth $153,685,000 after purchasing an additional 39,223 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Landstar System by 28.1% in the 3rd quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company's stock worth $11,000,000 after buying an additional 12,756 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LSTR shares. 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 report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a report on Monday. Jefferies Financial Group reduced their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Susquehanna reduced their target price on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and a consensus price target of $156.92.

Landstar System Price Performance

Shares of NASDAQ LSTR traded down $2.62 during mid-day trading on Wednesday, hitting $135.05. 46,049 shares of the company's stock traded hands, compared to its average volume of 281,739. The company has a market capitalization of $4.72 billion, a P/E ratio of 24.38 and a beta of 0.88. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. 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 50-day moving average is $151.05 and its two-hundred day moving average is $169.54.

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

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.07%. Landstar System's dividend payout ratio (DPR) is presently 26.09%.

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.