International Assets Investment Management LLC Invests $637,000 in Landstar System, Inc. (NASDAQ:LSTR)

International Assets Investment Management LLC purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,292 shares of the transportation company’s stock, valued at approximately $637,000.

Several other hedge funds have also recently modified their holdings of the business. Invesco Ltd. lifted its position in Landstar System by 55.1% during the third quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock valued at $73,949,000 after acquiring an additional 148,490 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Landstar System by 63.3% during the third quarter. Qube Research & Technologies Ltd now owns 205,239 shares of the transportation company’s stock valued at $36,315,000 after acquiring an additional 79,536 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Landstar System by 185.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 94,243 shares of the transportation company’s stock valued at $16,675,000 after acquiring an additional 61,260 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Landstar System by 49.1% during the third quarter. Envestnet Asset Management Inc. now owns 156,879 shares of the transportation company’s stock valued at $27,758,000 after acquiring an additional 51,669 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Landstar System during the third quarter valued at approximately $4,681,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Shares of LSTR stock opened at $171.10 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00. The firm’s 50-day moving average is $185.05 and its two-hundred day moving average is $183.53. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $208.62. The company has a market capitalization of $6.12 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 4.52 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.01). Landstar System had a net margin of 4.99% and a return on equity of 26.73%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.25 billion. Analysts predict that Landstar System, Inc. will post 6.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 10th. Wells Fargo & Company increased their price objective on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. UBS Group raised their price target on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Susquehanna decreased their price target on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, March 25th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average target price of $184.55.

Insider Buying and Selling at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the sale, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

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.