Michael K. Kneller Sells 12,219 Shares of Landstar System, Inc. (NASDAQ:LSTR) Stock

Landstar System, Inc. (NASDAQ:LSTRGet Free Report) VP Michael K. Kneller sold 12,219 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the sale, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Landstar System Price Performance

Landstar System stock opened at $190.45 on Thursday. Landstar System, Inc. has a 52 week low of $161.13 and a 52 week high of $208.62. The company’s 50 day moving average price is $190.22 and its two-hundred day moving average price is $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. The stock has a market cap of $6.85 billion, a P/E ratio of 25.91 and a beta of 0.85.

Landstar System Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research report on Wednesday, January 10th. Morgan Stanley dropped their target price 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 boosted their target price on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $185.00.

Check Out Our Latest Stock Analysis on LSTR

Hedge Funds Weigh In On Landstar System

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in shares of Landstar System by 4.7% in the 1st quarter. HighTower Advisors LLC now owns 7,370 shares of the transportation company’s stock worth $1,105,000 after purchasing an additional 334 shares during the period. Private Advisor Group LLC raised its holdings in Landstar System by 2.6% during the 1st quarter. Private Advisor Group LLC now owns 3,707 shares of the transportation company’s stock valued at $559,000 after acquiring an additional 95 shares during the period. Bank of Montreal Can raised its holdings in Landstar System by 5.7% during the 1st quarter. Bank of Montreal Can now owns 9,033 shares of the transportation company’s stock valued at $1,408,000 after acquiring an additional 485 shares during the period. Panagora Asset Management Inc. grew its position in shares of Landstar System by 87.1% during the 1st quarter. Panagora Asset Management Inc. now owns 2,245 shares of the transportation company’s stock valued at $339,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Landstar System by 9.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,814 shares of the transportation company’s stock valued at $2,084,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

About Landstar System

(Get 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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