Sei Investments Co. Sells 4,539 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Sei Investments Co. lessened its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,248 shares of the transportation company’s stock after selling 4,539 shares during the period. Sei Investments Co. owned about 0.18% of Landstar System worth $11,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Landstar System during the fourth quarter worth about $63,816,000. Corient Private Wealth LLC boosted its position in Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock worth $50,509,000 after acquiring an additional 271,417 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Landstar System during the 4th quarter worth approximately $8,463,000. Boston Trust Walden Corp raised its holdings in shares of Landstar System by 21.1% in the fourth quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company’s stock valued at $47,695,000 after purchasing an additional 48,312 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Landstar System by 509.3% in the third quarter. BNP Paribas Financial Markets now owns 55,048 shares of the transportation company’s stock worth $10,397,000 after purchasing an additional 46,014 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Down 0.9 %

LSTR opened at $147.37 on Friday. The stock’s fifty day simple moving average is $159.43 and its 200 day simple moving average is $173.63. Landstar System, Inc. has a 1-year low of $144.13 and a 1-year high of $196.86. The stock has a market cap of $5.20 billion, a PE ratio of 26.70 and a beta of 0.82. 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 (NASDAQ:LSTR) last issued 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 net margin of 4.07% and a return on equity of 19.56%. As a group, research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.44 annualized dividend and a yield of 0.98%. Landstar System’s dividend payout ratio (DPR) is presently 26.09%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LSTR shares. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Susquehanna decreased their price objective on Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus upped their target price on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Truist Financial started coverage on Landstar System in a research note on Thursday, March 13th. They set a “hold” rating and a $160.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $166.73.

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.