Norges Bank Makes New Investment in Landstar System, Inc. (NASDAQ:LSTR)

Norges Bank purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 314,722 shares of the transportation company's stock, valued at approximately $54,088,000. Norges Bank owned about 0.89% of Landstar System as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Landstar System in the fourth quarter valued at about $25,000. HM Payson & Co. acquired a new position in Landstar System in the 4th quarter valued at approximately $26,000. Trust Co. of Vermont bought a new stake in shares of Landstar System in the 4th quarter worth approximately $34,000. TD Private Client Wealth LLC grew its holdings in shares of Landstar System by 27.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company's stock worth $137,000 after purchasing an additional 158 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Landstar System by 225.5% during the fourth quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company's stock valued at $154,000 after purchasing an additional 620 shares during the period. 97.95% of the stock is owned by institutional investors.

Landstar System Price Performance

LSTR stock traded up $9.56 during midday trading on Wednesday, reaching $141.11. 415,953 shares of the company's stock traded hands, compared to its average volume of 279,861. The company has a 50-day simple moving average of $152.86 and a two-hundred day simple moving average of $170.81. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a 1-year low of $129.06 and a 1-year high of $196.86. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 25.56 and a beta of 0.88.

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

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.02%. Landstar System's dividend payout ratio (DPR) is currently 26.09%.

Analysts Set New Price Targets

LSTR has been the subject of several research reports. Truist Financial reduced their target price on Landstar System from $160.00 to $150.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a report on Thursday, April 3rd. Susquehanna lowered their target price on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Stifel Nicolaus lifted 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. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $159.55.

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.