Legal & General Group Plc Trims Stake in Landstar System, Inc. (NASDAQ:LSTR)

Legal & General Group Plc decreased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 71,638 shares of the transportation company’s stock after selling 3,813 shares during the quarter. Legal & General Group Plc’s holdings in Landstar System were worth $12,312,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Landstar System by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock valued at $278,673,000 after acquiring an additional 11,146 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Landstar System by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock valued at $140,602,000 after purchasing an additional 4,392 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Landstar System by 5.5% during the 4th quarter. Wells Fargo & Company MN now owns 414,116 shares of the transportation company’s stock worth $71,170,000 after purchasing an additional 21,514 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Landstar System by 4.3% during the fourth 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 position in shares of Landstar System in the fourth quarter valued at approximately $63,816,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the topic of a number of analyst reports. Benchmark restated a “hold” rating on shares of Landstar System in a research report on Monday. JPMorgan Chase & Co. lowered 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, April 3rd. Truist Financial reduced their target price on Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Susquehanna lowered their price target on Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, Stifel Nicolaus cut their price objective on shares of Landstar System from $162.00 to $147.00 and set a “hold” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $156.92.

Landstar System Trading Down 2.5 %

NASDAQ LSTR opened at $134.28 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. Landstar System, Inc. has a one year low of $128.99 and a one year high of $196.86. The company’s 50 day moving average price is $150.54 and its 200 day moving average price is $169.30. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 24.33 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) 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%. On average, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.07%. The ex-dividend date was Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is 26.09%.

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.