Royce & Associates LP Has $28.28 Million Stock Position in Landstar System, Inc. $LSTR

Royce & Associates LP cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,765 shares of the transportation company’s stock after selling 3,094 shares during the period. Royce & Associates LP owned 0.67% of Landstar System worth $28,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LSTR. Vestmark Advisory Solutions Inc. lifted its holdings in Landstar System by 0.4% in the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock valued at $2,523,000 after buying an additional 78 shares during the period. Cardinal Capital Management lifted its stake in shares of Landstar System by 0.4% in the 3rd quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock valued at $2,981,000 after purchasing an additional 90 shares during the period. Huntington National Bank boosted its position in shares of Landstar System by 9.7% in the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock worth $138,000 after purchasing an additional 100 shares during the last quarter. Eukles Asset Management grew its stake in shares of Landstar System by 1.1% during the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock worth $1,398,000 after purchasing an additional 105 shares during the period. Finally, MAI Capital Management grew its stake in shares of Landstar System by 79.3% during the second quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LSTR. Zacks Research raised Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. TD Cowen reaffirmed a “hold” rating on shares of Landstar System in a research note on Friday, January 9th. Truist Financial decreased their price target on shares of Landstar System from $150.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, January 29th. Robert W. Baird set a $164.00 price objective on Landstar System in a research note on Friday, January 30th. Finally, Stifel Nicolaus increased their target price on Landstar System from $140.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $153.00.

Landstar System Stock Up 3.4%

Landstar System stock opened at $162.95 on Monday. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $165.25. The firm has a market capitalization of $5.55 billion, a PE ratio of 49.23 and a beta of 0.81. The company’s 50-day moving average is $150.11 and its 200-day moving average is $137.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Landstar System Announces Dividend

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

About Landstar System

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.