Allspring Global Investments Holdings LLC Sells 4,687 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Allspring Global Investments Holdings LLC cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,556 shares of the transportation company’s stock after selling 4,687 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Landstar System were worth $17,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of LSTR. Confluence Wealth Services Inc. raised its position in Landstar System by 14.9% in the 4th quarter. Confluence Wealth Services Inc. now owns 4,201 shares of the transportation company’s stock worth $814,000 after purchasing an additional 546 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Landstar System during the fourth quarter worth $637,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Landstar System by 4.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 277,741 shares of the transportation company’s stock valued at $53,784,000 after acquiring an additional 11,370 shares during the period. Fulton Bank N.A. boosted its holdings in Landstar System by 12.0% in the fourth quarter. Fulton Bank N.A. now owns 2,031 shares of the transportation company’s stock valued at $393,000 after acquiring an additional 218 shares during the last quarter. Finally, Boston Trust Walden Corp increased its position in Landstar System by 1.2% in the fourth quarter. Boston Trust Walden Corp now owns 235,854 shares of the transportation company’s stock worth $45,673,000 after purchasing an additional 2,722 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LSTR. Susquehanna dropped their price target on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a research note on Monday, March 25th. UBS Group upped their price target on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Stifel Nicolaus dropped their price objective on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price for the company in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company increased their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $184.55.

Insider Buying and Selling

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 completion of the sale, the vice president now owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Landstar System Stock Performance

Shares of LSTR opened at $178.91 on Monday. The firm has a fifty day simple moving average of $188.43 and a 200 day simple moving average of $183.83. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $208.62. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 4.72 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). Landstar System had a net margin of 4.99% and a return on equity of 26.73%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.25 billion. Research analysts forecast that Landstar System, Inc. will post 6.71 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, February 9th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. Landstar System’s dividend payout ratio is currently 17.96%.

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.