Vanguard Personalized Indexing Management LLC raised its position in shares of Landstar System, Inc. (NASDAQ:LSTR – Free Report) by 2.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,320 shares of the transportation company’s stock after purchasing an additional 126 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Landstar System were worth $1,118,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in Landstar System during the 2nd quarter valued at approximately $520,000. BlackRock Inc. grew its position in shares of Landstar System by 0.3% during the 2nd quarter. BlackRock Inc. now owns 3,381,627 shares of the transportation company’s stock worth $651,098,000 after buying an additional 11,097 shares during the period. Virtu Financial LLC grew its position in shares of Landstar System by 22.4% during the 2nd quarter. Virtu Financial LLC now owns 2,988 shares of the transportation company’s stock worth $575,000 after buying an additional 546 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Landstar System by 10.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,983 shares of the transportation company’s stock worth $6,351,000 after buying an additional 3,135 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Landstar System during the 2nd quarter worth approximately $467,000. Institutional investors and hedge funds own 99.52% of the company’s stock.
Analyst Upgrades and Downgrades
LSTR has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. Stephens reduced their price objective on shares of Landstar System from $210.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. Wells Fargo & Company raised their price objective on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. started coverage on shares of Landstar System in a research report on Monday, December 11th. They set a “neutral” rating and a $186.00 price objective for the company. Finally, Morgan Stanley reduced their price target on shares of Landstar System from $150.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $185.00.
Insider Buying and Selling at Landstar System
In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the transaction, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.
Landstar System Price Performance
Shares of NASDAQ:LSTR opened at $192.93 on Monday. The company has a current ratio of 2.00, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $190.91 and its two-hundred day simple moving average is $184.78. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $208.62. The stock has a market cap of $6.94 billion, a PE ratio of 26.25 and a beta of 0.85.
Landstar System Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Monday, February 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, February 9th. Landstar System’s dividend payout ratio (DPR) is presently 17.96%.
Landstar System Profile
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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