Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its position in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 5.7% in the fourth quarter, Holdings Channel reports. The firm owned 20,515 shares of the transportation company’s stock after selling 1,242 shares during the period. Citigroup Inc.’s holdings in Landstar System were worth $3,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Landstar System by 0.8% during the 1st quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company’s stock valued at $616,286,000 after acquiring an additional 31,476 shares during the last quarter. Boston Partners raised its stake in Landstar System by 28.5% during the 3rd quarter. Boston Partners now owns 1,664,888 shares of the transportation company’s stock valued at $240,541,000 after acquiring an additional 368,802 shares during the last quarter. State Street Corp raised its stake in Landstar System by 4.1% during the 1st quarter. State Street Corp now owns 1,179,816 shares of the transportation company’s stock valued at $177,952,000 after acquiring an additional 46,997 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Landstar System by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 581,804 shares of the transportation company’s stock valued at $83,998,000 after acquiring an additional 13,450 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Landstar System by 21.5% during the 1st quarter. Northern Trust Corp now owns 559,782 shares of the transportation company’s stock valued at $84,432,000 after acquiring an additional 98,958 shares during the last quarter. 98.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. StockNews.com started coverage on Landstar System in a research note on Thursday, May 18th. They set a “hold” rating for the company. Raymond James raised Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Monday, February 6th. Stephens increased their target price on Landstar System from $180.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, February 3rd. Robert W. Baird increased their target price on Landstar System from $160.00 to $180.00 in a research note on Friday, February 3rd. Finally, Susquehanna cut their target price on Landstar System from $170.00 to $155.00 in a research note on Friday, April 28th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average price target of $166.83.

Landstar System Stock Performance

NASDAQ LSTR opened at $175.03 on Tuesday. Landstar System, Inc. has a 1-year low of $137.15 and a 1-year high of $188.46. The company has a market capitalization of $6.29 billion, a P/E ratio of 16.54, a PEG ratio of 1.71 and a beta of 0.90. The business has a 50 day moving average price of $176.76 and a 200 day moving average price of $173.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.83 and a quick ratio of 1.83.

Landstar System (NASDAQ:LSTR – Get Rating) last announced its earnings results on Wednesday, April 26th. The transportation company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Landstar System had a return on equity of 43.26% and a net margin of 5.57%. Landstar System’s quarterly revenue was down 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 EPS. Sell-side analysts expect that Landstar System, Inc. will post 8.65 EPS for the current fiscal year.

Landstar System Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 4th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, May 3rd. Landstar System’s dividend payout ratio (DPR) is presently 11.34%.

Landstar System Profile

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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.