Landstar System, Inc. (NASDAQ:LSTR) Stake Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 38.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,440 shares of the transportation company's stock after selling 14,900 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Landstar System worth $4,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Landstar System by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock valued at $278,673,000 after acquiring an additional 11,146 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Landstar System by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock worth $140,602,000 after purchasing an additional 4,392 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Landstar System by 5.5% in the 4th quarter. Wells Fargo & Company MN now owns 414,116 shares of the transportation company's stock valued at $71,170,000 after buying an additional 21,514 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Landstar System by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 389,019 shares of the transportation company's stock valued at $66,857,000 after buying an additional 15,986 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Landstar System in the fourth quarter valued at $63,816,000. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LSTR. Stifel Nicolaus cut their target price on shares of Landstar System from $162.00 to $147.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Benchmark restated a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. Truist Financial cut their price target on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a report on Thursday. TD Cowen decreased their price objective on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Finally, Jefferies Financial Group dropped their target price 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. One analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, Landstar System presently has an average rating of "Hold" and an average target price of $155.67.

Landstar System Stock Up 1.2 %

Shares of LSTR traded up $1.65 during midday trading on Thursday, reaching $139.92. 398,543 shares of the company were exchanged, compared to its average volume of 284,396. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 25.35 and a beta of 0.88. The stock has a 50-day moving average price of $148.23 and a 200-day moving average price of $167.70.

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 (EPS) 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%. Research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

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.