Landstar System, Inc. (NASDAQ:LSTR) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Landstar System, Inc. (NASDAQ:LSTRFree Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,893 shares of the transportation company’s stock after acquiring an additional 337 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.25% of Landstar System worth $17,328,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Landstar System in the 4th quarter valued at approximately $2,261,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Landstar System by 4.3% in the 4th 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 in the last quarter. Royal Bank of Canada lifted its position in shares of Landstar System by 6.3% in the 3rd quarter. Royal Bank of Canada now owns 335,747 shares of the transportation company’s stock valued at $59,407,000 after acquiring an additional 19,920 shares in the last quarter. Hsbc Holdings PLC lifted its position in Landstar System by 137.0% in the 4th quarter. Hsbc Holdings PLC now owns 8,028 shares of the transportation company’s stock worth $1,556,000 after buying an additional 4,641 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Landstar System by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock worth $668,993,000 after buying an additional 27,026 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Performance

NASDAQ:LSTR opened at $180.31 on Friday. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $208.62. The firm’s fifty day simple moving average is $181.21 and its 200 day simple moving average is $185.89. 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 firm has a market capitalization of $6.45 billion, a PE ratio of 27.74 and a beta of 0.80.

Landstar System (NASDAQ:LSTRGet Free Report) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. On average, sell-side analysts anticipate that Landstar System, Inc. will post 6.31 EPS for the current year.

Landstar System Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LSTR. Raymond James began coverage on shares of Landstar System in a research report on Wednesday, May 15th. They issued an “outperform” rating and a $205.00 target price for the company. Stifel Nicolaus cut their target price on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Susquehanna cut their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Evercore ISI increased their target price on shares of Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.55.

Get Our Latest Research 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.

See Also

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

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