Landstar System, Inc. (NASDAQ:LSTR) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,392 shares of the transportation company’s stock after buying an additional 665 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Landstar System were worth $927,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LSTR. Victory Capital Management Inc. grew its stake in shares of Landstar System by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after purchasing an additional 11,146 shares in the last quarter. State Street Corp grew its position in Landstar System by 1.4% in the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock valued at $211,130,000 after buying an additional 15,328 shares in the last quarter. Geode Capital Management LLC increased its stake in Landstar System by 5.1% during the 3rd 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 period. Bank of New York Mellon Corp raised its position in shares of Landstar System by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 389,019 shares of the transportation company’s stock worth $66,857,000 after buying an additional 15,986 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Landstar System in the 4th quarter worth approximately $63,816,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR stock opened at $136.64 on Monday. Landstar System, Inc. has a fifty-two week low of $132.41 and a fifty-two week high of $196.86. The stock’s 50-day moving average is $156.41 and its two-hundred day moving average is $172.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The firm has a market cap of $4.83 billion, a P/E ratio of 24.75 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 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%. Analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s payout ratio is presently 26.09%.

Wall Street Analyst Weigh In

LSTR has been the topic of a number of research analyst reports. Stifel Nicolaus raised 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. JPMorgan Chase & Co. cut their price objective on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Thursday. Susquehanna cut their target price on Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 26th. Finally, Truist Financial reduced their price target 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. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, Landstar System currently has a consensus rating of “Hold” and an average price target of $160.45.

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.