Truist Financial Corp Sells 911 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Truist Financial Corp trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,484 shares of the transportation company’s stock after selling 911 shares during the period. Truist Financial Corp’s holdings in Landstar System were worth $1,114,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Landstar System by 1.4% during the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock valued at $211,130,000 after acquiring an additional 15,328 shares during the period. Geode Capital Management LLC raised its position in shares of Landstar System by 5.1% during the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock valued at $153,685,000 after buying an additional 39,223 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Landstar System by 10.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock valued at $81,201,000 after buying an additional 41,758 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Landstar System by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock valued at $68,494,000 after buying an additional 948 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Landstar System by 3,775.2% during the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after buying an additional 326,212 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on LSTR. Susquehanna cut their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus upped their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $170.40.

Landstar System Stock Performance

NASDAQ:LSTR opened at $158.80 on Friday. The firm has a market capitalization of $5.61 billion, a PE ratio of 28.77 and a beta of 0.83. The firm has a 50-day moving average price of $167.83 and a 200 day moving average price of $178.37. 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 12-month low of $152.73 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR) last posted 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%. Research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

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.