Vanguard Group Inc. Sells 56,917 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Vanguard Group Inc. cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,344,369 shares of the transportation company's stock after selling 56,917 shares during the quarter. Vanguard Group Inc. owned approximately 9.47% of Landstar System worth $574,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in Landstar System by 419.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company's stock valued at $695,000 after purchasing an additional 2,973 shares during the last quarter. FMR LLC grew its position in shares of Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company's stock valued at $30,639,000 after purchasing an additional 12,894 shares in the last quarter. State Street Corp raised its stake in shares of Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company's stock valued at $211,130,000 after purchasing an additional 15,328 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Landstar System by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company's stock worth $2,935,000 after purchasing an additional 3,150 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Landstar System by 346.8% in the 3rd quarter. National Bank of Canada FI now owns 6,179 shares of the transportation company's stock worth $1,167,000 after purchasing an additional 4,796 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LSTR shares. TD Cowen decreased their price target on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research report on Thursday. Susquehanna decreased their target price on Landstar System from $150.00 to $130.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 26th. Truist Financial dropped their target price on shares of Landstar System from $160.00 to $150.00 and set a "hold" rating for the company in a research report on Thursday. Benchmark reiterated a "hold" rating on shares of Landstar System in a report on Thursday. Finally, Stifel Nicolaus raised 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 equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $160.45.

Landstar System Trading Down 1.4 %

Shares of Landstar System stock traded down $1.99 on Friday, hitting $136.64. The stock had a trading volume of 562,916 shares, compared to its average volume of 278,414. 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 one year low of $132.41 and a one year high of $196.86. The stock's 50-day simple moving average is $156.41 and its two-hundred day simple moving average is $172.34. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 24.75 and a beta of 0.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly 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 return on equity of 19.56% and a net margin of 4.07%. As a group, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 1.05%. Landstar System's dividend payout ratio (DPR) is 26.09%.

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.