Resona Asset Management Co. Ltd. Acquires Shares of 6,423 Landstar System, Inc. (NASDAQ:LSTR)

Resona Asset Management Co. Ltd. bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,423 shares of the transportation company's stock, valued at approximately $1,104,000.

Several other large investors also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in Landstar System during the fourth quarter valued at $25,000. HM Payson & Co. bought a new stake in Landstar System during the fourth quarter valued at about $26,000. Trust Co. of Vermont purchased a new position in shares of Landstar System in the fourth quarter valued at about $34,000. TD Private Client Wealth LLC boosted its stake in shares of Landstar System by 27.9% in the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company's stock worth $137,000 after acquiring an additional 158 shares during the period. Finally, Jones Financial Companies Lllp grew 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 worth $154,000 after purchasing an additional 620 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen dropped their price objective on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Jefferies Financial Group cut their price target 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 decreased their price objective on Landstar System from $162.00 to $147.00 and set a "hold" rating on the stock in a report on Monday. Truist Financial cut their target price on shares of Landstar System from $160.00 to $150.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. Finally, Susquehanna decreased their price target 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, April 7th. One analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $156.92.

Landstar System Stock Performance

NASDAQ LSTR traded down $1.50 on Wednesday, hitting $136.18. 137,486 shares of the company's stock traded hands, compared to its average volume of 281,852. The firm's 50-day moving average price is $151.05 and its two-hundred day moving average price is $169.54. The firm has a market capitalization of $4.76 billion, a PE ratio of 24.66 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, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86.

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

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System's payout ratio 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.