Bank of America Corp DE Has $51.11 Million Stake in Landstar System, Inc. (NASDAQ:LSTR)

Bank of America Corp DE cut its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 297,383 shares of the transportation company’s stock after selling 43,808 shares during the period. Bank of America Corp DE’s holdings in Landstar System were worth $51,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LSTR. Roberts Wealth Advisors LLC grew its holdings in Landstar System by 1.3% in the fourth quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company’s stock worth $818,000 after purchasing an additional 60 shares during the period. Huntington National Bank grew its holdings in Landstar System by 12.2% during the fourth quarter. Huntington National Bank now owns 1,037 shares of the transportation company’s stock worth $178,000 after buying an additional 113 shares in the last quarter. Bessemer Group Inc. raised its position in Landstar System by 6.9% in the 4th quarter. Bessemer Group Inc. now owns 2,213 shares of the transportation company’s stock valued at $380,000 after buying an additional 143 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Landstar System in the 4th quarter valued at $25,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in Landstar System by 1.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,158 shares of the transportation company’s stock valued at $1,746,000 after acquiring an additional 146 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

Landstar System stock opened at $140.21 on Wednesday. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.90 billion, a PE ratio of 25.40 and a beta of 0.92. The firm’s 50 day simple moving average is $142.46 and its 200 day simple moving average is $162.99.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LSTR. Stifel Nicolaus lowered their target price on shares of Landstar System from $162.00 to $147.00 and set a “hold” rating for the company in a report on Monday, April 14th. Susquehanna reduced their price objective on Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. TD Cowen lowered their target price on Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, April 3rd. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Finally, Jefferies Financial Group cut their target price on shares of Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, Landstar System presently has an average rating of “Hold” and a consensus price target of $155.67.

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.