Vanguard Group Inc. Decreases Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Vanguard Group Inc. decreased its position in Landstar System, Inc. (NASDAQ:LSTR) by 1.7% in the fourth quarter, according to its most recent 13F 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 9.47% of Landstar System worth $574,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Landstar System in the 4th quarter valued at $63,816,000. Corient Private Wealth LLC boosted its position in Landstar System by 1,207.3% during the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock valued at $50,509,000 after buying an additional 271,417 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Landstar System during the fourth quarter valued at about $8,463,000. Boston Trust Walden Corp increased 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 worth $47,695,000 after buying an additional 48,312 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Landstar System by 509.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,048 shares of the transportation company’s stock valued at $10,397,000 after acquiring an additional 46,014 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

Landstar System stock opened at $150.20 on Tuesday. Landstar System, Inc. has a fifty-two week low of $144.13 and a fifty-two week high of $196.86. The stock’s 50 day simple moving average is $158.95 and its two-hundred day simple moving average is $173.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 27.21 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results 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, analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 0.96%. Landstar System’s payout ratio is 26.09%.

Analyst Upgrades and Downgrades

LSTR has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Susquehanna decreased their target price on shares of 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 assumed coverage on shares of Landstar System in a report on Thursday, March 13th. They set a “hold” rating and a $160.00 price target for the company. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Friday, January 31st. Finally, 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 note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $166.73.

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.