Principal Financial Group Inc. Has $23.13 Million Stake in Landstar System, Inc. (NASDAQ:LSTR)

Principal Financial Group Inc. lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,974 shares of the transportation company’s stock after selling 275 shares during the quarter. Principal Financial Group Inc.’s holdings in Landstar System were worth $23,128,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LSTR. HighTower Advisors LLC grew its holdings in Landstar System by 4.7% during the first quarter. HighTower Advisors LLC now owns 7,370 shares of the transportation company’s stock worth $1,105,000 after buying an additional 334 shares in the last quarter. Private Advisor Group LLC grew its holdings in Landstar System by 2.6% during the first quarter. Private Advisor Group LLC now owns 3,707 shares of the transportation company’s stock worth $559,000 after buying an additional 95 shares in the last quarter. Bank of Montreal Can grew its holdings in Landstar System by 5.7% during the first quarter. Bank of Montreal Can now owns 9,033 shares of the transportation company’s stock worth $1,408,000 after buying an additional 485 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Landstar System by 87.1% during the first quarter. Panagora Asset Management Inc. now owns 2,245 shares of the transportation company’s stock worth $339,000 after buying an additional 1,045 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Landstar System by 9.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,814 shares of the transportation company’s stock worth $2,084,000 after buying an additional 1,179 shares in the last quarter. Institutional investors own 98.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LSTR. Stephens upped their price target on Landstar System from $180.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, February 3rd. Robert W. Baird upped their price objective on Landstar System from $160.00 to $180.00 in a research note on Friday, February 3rd. Stifel Nicolaus reduced their price objective on Landstar System from $184.00 to $178.00 in a research note on Tuesday, May 2nd. Raymond James upgraded Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Monday, February 6th. Finally, Morgan Stanley upped their price objective on Landstar System from $140.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 4th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $166.83.

Landstar System Stock Down 0.7 %

LSTR stock opened at $177.39 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.72 and a beta of 0.90. Landstar System, Inc. has a fifty-two week low of $137.15 and a fifty-two week high of $188.46. The stock has a fifty day moving average of $176.76 and a 200-day moving average of $173.56.

Landstar System (NASDAQ:LSTR – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.10. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Landstar System had a return on equity of 43.26% and a net margin of 5.57%. The firm’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.34 EPS. As a group, equities research analysts predict that Landstar System, Inc. will post 8.65 earnings per share for the current year.

Landstar System Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Thursday, May 4th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 0.68%. Landstar System’s dividend payout ratio (DPR) is 11.34%.

About Landstar System

(Get Rating)

Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.