Vanguard Group Inc. Lowers Stake in Landstar System, Inc. $LSTR

Vanguard Group Inc. cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.6% during the third quarter, Holdings Channel.com reports. The fund owned 3,256,849 shares of the transportation company’s stock after selling 19,978 shares during the period. Vanguard Group Inc. owned about 0.09% of Landstar System worth $399,159,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Boston Partners boosted its position in Landstar System by 14.2% during the second quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock worth $197,310,000 after purchasing an additional 176,601 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock worth $91,492,000 after buying an additional 21,163 shares during the period. First Trust Advisors LP lifted its position in shares of Landstar System by 6.8% during the 2nd quarter. First Trust Advisors LP now owns 731,615 shares of the transportation company’s stock valued at $101,709,000 after buying an additional 46,547 shares in the last quarter. Reinhart Partners LLC. grew its stake in Landstar System by 36.4% in the 3rd quarter. Reinhart Partners LLC. now owns 581,293 shares of the transportation company’s stock valued at $71,245,000 after acquiring an additional 155,260 shares during the period. Finally, Bank of America Corp DE increased its holdings in Landstar System by 9.4% in the 2nd quarter. Bank of America Corp DE now owns 406,872 shares of the transportation company’s stock worth $56,563,000 after acquiring an additional 34,871 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

LSTR has been the topic of several recent analyst reports. Evercore increased their price objective on shares of Landstar System from $125.00 to $151.00 and gave the company an “in-line” rating in a report on Monday, January 12th. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $134.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Barclays lifted their price objective on Landstar System from $130.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Wells Fargo & Company upgraded Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $145.00 to $170.00 in a research note on Tuesday, January 6th. Finally, Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus target price of $153.00.

Landstar System Stock Up 9.2%

Shares of NASDAQ LSTR opened at $157.58 on Friday. The stock has a market cap of $5.37 billion, a PE ratio of 47.61 and a beta of 0.85. 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 12-month low of $119.32 and a 12-month high of $165.25. The company has a 50-day moving average of $149.75 and a 200 day moving average of $137.19.

Landstar System Announces Dividend

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

Landstar System Company 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.