Parallel Advisors LLC Sells 934 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Parallel Advisors LLC reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTRFree Report) by 26.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,572 shares of the transportation company’s stock after selling 934 shares during the period. Parallel Advisors LLC’s holdings in Landstar System were worth $498,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hsbc Holdings PLC increased its stake in shares of Landstar System by 137.0% in the fourth quarter. Hsbc Holdings PLC now owns 8,028 shares of the transportation company’s stock worth $1,556,000 after purchasing an additional 4,641 shares during the period. Commerce Bank increased its stake in shares of Landstar System by 14.0% in the fourth quarter. Commerce Bank now owns 20,777 shares of the transportation company’s stock worth $4,023,000 after purchasing an additional 2,552 shares during the period. Beaton Management Co. Inc. bought a new position in shares of Landstar System in the fourth quarter worth about $201,000. Aigen Investment Management LP increased its stake in shares of Landstar System by 104.8% in the fourth quarter. Aigen Investment Management LP now owns 3,062 shares of the transportation company’s stock worth $593,000 after purchasing an additional 1,567 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Landstar System in the fourth quarter worth about $514,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Up 2.2 %

NASDAQ LSTR opened at $182.03 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $180.54 and its two-hundred day moving average is $185.20. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 28.00 and a beta of 0.86. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $208.62.

Landstar System (NASDAQ:LSTRGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. Equities analysts forecast that Landstar System, Inc. will post 6.31 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, May 7th. Landstar System’s payout ratio is 20.31%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LSTR shares. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Friday, April 26th. Raymond James started coverage on Landstar System in a research note on Wednesday, May 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. UBS Group lifted their target price on Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their target price on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus decreased their target price on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $183.00.

View Our Latest Stock Report on Landstar System

About Landstar System

(Free Report)

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.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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