Citigroup Inc. Purchases 59,626 Shares of Landstar System, Inc. $LSTR

Citigroup Inc. raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 112.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,870 shares of the transportation company’s stock after buying an additional 59,626 shares during the quarter. Citigroup Inc. owned 0.33% of Landstar System worth $13,833,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cardinal Capital Management increased its stake in Landstar System by 0.4% in the third quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock valued at $2,981,000 after acquiring an additional 90 shares during the period. Eukles Asset Management boosted its holdings in Landstar System by 1.1% during the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after purchasing an additional 105 shares in the last quarter. MAI Capital Management grew its stake in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 107 shares during the period. Vident Advisory LLC raised its holdings in shares of Landstar System by 4.9% in the 2nd quarter. Vident Advisory LLC now owns 2,313 shares of the transportation company’s stock worth $322,000 after buying an additional 107 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Landstar System by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 16,188 shares of the transportation company’s stock worth $2,250,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Performance

Shares of NASDAQ:LSTR opened at $162.95 on Friday. The company has a current ratio of 1.75, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $165.25. The stock has a market capitalization of $5.55 billion, a P/E ratio of 49.23 and a beta of 0.85. The business has a 50-day moving average price of $150.11 and a two-hundred day moving average price of $137.45.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 18th. Landstar System’s payout ratio is currently 48.34%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Evercore upped their price target on Landstar System from $125.00 to $151.00 and gave the company an “in-line” rating in a research report on Monday, January 12th. Barclays upped their target price on shares of Landstar System from $130.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Weiss Ratings downgraded shares of Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 12th. Stifel Nicolaus upped their price objective on shares of Landstar System from $140.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. Finally, Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $153.00.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.