Amalgamated Bank Buys 708 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Amalgamated Bank grew its position in Landstar System, Inc. (NASDAQ:LSTRFree Report) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 27,639 shares of the transportation company’s stock after acquiring an additional 708 shares during the period. Amalgamated Bank owned 0.08% of Landstar System worth $4,890,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of LSTR. Morgan Stanley increased its holdings in Landstar System by 756.6% in the fourth quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock valued at $496,178,000 after purchasing an additional 2,690,326 shares during the period. Comerica Bank acquired a new stake in Landstar System during the 2nd quarter worth about $647,360,000. Norges Bank acquired a new stake in Landstar System during the 4th quarter worth about $54,341,000. Renaissance Technologies LLC acquired a new stake in Landstar System during the 1st quarter worth about $26,416,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Landstar System during the 2nd quarter worth about $33,528,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the transaction, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Landstar System in a report on Monday, December 11th. They set a “neutral” rating and a $186.00 price target for the company. Wells Fargo & Company increased their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Morgan Stanley cut their price objective on shares of Landstar System from $150.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. UBS Group increased their price objective on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Finally, Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a research report on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $185.00.

View Our Latest Analysis on LSTR

Landstar System Trading Down 1.7 %

Shares of LSTR stock opened at $190.45 on Thursday. The company has a 50 day moving average of $190.22 and a 200-day moving average of $184.94. The company has a quick ratio of 2.08, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 12-month low of $161.13 and a 12-month high of $208.62. The firm has a market cap of $6.85 billion, a P/E ratio of 25.91 and a beta of 0.85.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.32 annualized dividend and a dividend yield of 0.69%. Landstar System’s payout ratio is currently 17.96%.

Landstar System Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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