New York Life Investment Management LLC Boosts Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

New York Life Investment Management LLC raised its stake in Landstar System, Inc. (NASDAQ:LSTRFree Report) by 112.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,801 shares of the transportation company’s stock after acquiring an additional 2,013 shares during the quarter. New York Life Investment Management LLC’s holdings in Landstar System were worth $673,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Landstar System by 0.8% in the first 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 period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Landstar System by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,273,485 shares of the transportation company’s stock worth $586,805,000 after purchasing an additional 25,366 shares during the period. Morgan Stanley grew its holdings in shares of Landstar System by 756.6% during the 4th quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock worth $496,178,000 after purchasing an additional 2,690,326 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Landstar System by 2.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,549,559 shares of the transportation company’s stock worth $298,352,000 after purchasing an additional 38,868 shares during the period. Finally, State Street Corp grew its holdings in shares of Landstar System by 4.1% during the 1st quarter. State Street Corp now owns 1,179,816 shares of the transportation company’s stock worth $177,952,000 after purchasing an additional 46,997 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Landstar System Price Performance

LSTR stock opened at $190.51 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.08. The firm has a market capitalization of $6.85 billion, a P/E ratio of 25.92 and a beta of 0.85. The business’s 50-day moving average is $190.58 and its two-hundred day moving average is $184.98. Landstar System, Inc. has a 1 year low of $161.13 and a 1 year high of $208.62.

Landstar System Announces Dividend

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

Insider Transactions at Landstar System

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction dated 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 owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LSTR. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target for the company in a report on Wednesday, January 10th. Stifel Nicolaus decreased their target price on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Wells Fargo & Company increased their target price on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Morgan Stanley decreased their target price on Landstar System from $150.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. Finally, JPMorgan Chase & Co. began coverage on Landstar System in a research note on Monday, December 11th. They set a “neutral” rating and a $186.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Landstar System presently has an average rating of “Hold” and an average price target of $185.00.

View Our Latest Stock Analysis on Landstar System

Landstar System 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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