Swiss National Bank lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,900 shares of the transportation company’s stock after selling 2,200 shares during the quarter. Swiss National Bank’s holdings in Landstar System were worth $12,782,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Atria Investments LLC grew its stake in shares of Landstar System by 11.4% in the 1st quarter. Atria Investments LLC now owns 7,155 shares of the transportation company’s stock worth $1,079,000 after buying an additional 730 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Landstar System by 0.8% during the first quarter. Mutual of America Capital Management LLC now owns 34,373 shares of the transportation company’s stock worth $5,184,000 after acquiring an additional 286 shares during the period. National Asset Management Inc. bought a new stake in shares of Landstar System during the first quarter valued at approximately $269,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Landstar System by 5.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 21,154 shares of the transportation company’s stock valued at $3,191,000 after purchasing an additional 1,103 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Landstar System by 14.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 247,675 shares of the transportation company’s stock worth $37,357,000 after purchasing an additional 31,215 shares in the last quarter. Institutional investors own 98.90% of the company’s stock.
Landstar System Price Performance
Shares of LSTR opened at $165.99 on Friday. The company has a 50 day moving average of $151.09 and a two-hundred day moving average of $150.17. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.17 and a beta of 0.90. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.08. Landstar System, Inc. has a twelve month low of $137.15 and a twelve month high of $182.00.
Landstar System Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 8th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Monday, November 7th. Landstar System’s dividend payout ratio (DPR) is presently 9.88%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on LSTR. Susquehanna Bancshares upped their target price on Landstar System from $147.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 21st. Wells Fargo & Company cut their target price on shares of Landstar System from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 12th. Benchmark initiated coverage on shares of Landstar System in a research report on Tuesday, September 6th. They issued a “hold” rating for the company. Cowen cut their price objective on shares of Landstar System to $155.00 in a report on Thursday, October 27th. Finally, Susquehanna upped their target price on Landstar System from $147.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and an average price target of $150.70.
Insider Buying and Selling
In other Landstar System news, CEO James B. Gattoni sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $155.86, for a total transaction of $3,117,200.00. Following the transaction, the chief executive officer now owns 74,792 shares in the company, valued at approximately $11,657,081.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company insiders.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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