Allspring Global Investments Holdings LLC Sells 5,378 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Allspring Global Investments Holdings LLC cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,327 shares of the transportation company's stock after selling 5,378 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Landstar System worth $14,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company's stock worth $26,000 after acquiring an additional 74 shares during the period. Quest Partners LLC purchased a new position in Landstar System during the 2nd quarter valued at about $73,000. Mather Group LLC. increased its position in shares of Landstar System by 183.5% during the second quarter. Mather Group LLC. now owns 394 shares of the transportation company's stock valued at $76,000 after buying an additional 255 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Landstar System in the first quarter worth about $86,000. Finally, GAMMA Investing LLC boosted its position in shares of Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company's stock valued at $92,000 after acquiring an additional 183 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Raymond James lowered their target price on shares of Landstar System from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Wolfe Research downgraded Landstar System from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 11th. Susquehanna boosted their target price on Landstar System from $160.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. TD Cowen upped their target price on Landstar System from $171.00 to $176.00 and gave the stock a "hold" rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Landstar System from $182.00 to $188.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Landstar System presently has an average rating of "Hold" and an average target price of $177.25.

Landstar System Price Performance

LSTR traded up $0.96 during midday trading on Friday, hitting $179.15. The stock had a trading volume of 135,147 shares, compared to its average volume of 258,647. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $201.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.17 and a current ratio of 2.17. The business has a fifty day moving average of $183.80 and a 200 day moving average of $182.40. The company has a market cap of $6.35 billion, a P/E ratio of 29.23 and a beta of 0.80.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm's quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. As a group, equities analysts forecast that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.80%. This is an increase from Landstar System's previous quarterly dividend of $0.33. Landstar System's payout ratio is currently 23.49%.

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.