Pinebridge Investments L.P. Purchases 12,890 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Pinebridge Investments L.P. increased its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 51.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,071 shares of the transportation company's stock after purchasing an additional 12,890 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.11% of Landstar System worth $6,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LSTR. Roberts Wealth Advisors LLC lifted its position in shares of Landstar System by 1.3% during the 4th quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company's stock valued at $818,000 after acquiring an additional 60 shares during the period. Huntington National Bank raised its holdings in shares of Landstar System by 12.2% during the fourth quarter. Huntington National Bank now owns 1,037 shares of the transportation company's stock valued at $178,000 after purchasing an additional 113 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Landstar System by 1.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,865 shares of the transportation company's stock worth $1,524,000 after purchasing an additional 114 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Landstar System by 6.9% in the 4th quarter. Bessemer Group Inc. now owns 2,213 shares of the transportation company's stock valued at $380,000 after buying an additional 143 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Landstar System in the 4th quarter valued at about $25,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, April 11th. Stifel Nicolaus reduced their price objective on shares of Landstar System from $162.00 to $147.00 and set a "hold" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial dropped their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, TD Cowen lowered their price objective on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $155.67.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded down $4.92 during mid-day trading on Friday, reaching $135.00. The company had a trading volume of 658,922 shares, compared to its average volume of 283,974. The company's 50-day moving average price is $147.24 and its 200-day moving average price is $166.92. Landstar System, Inc. has a one year low of $128.99 and a one year high of $196.86. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 24.46 and a beta of 0.88. 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 (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data 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, equities research analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal 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.