Bleakley Financial Group LLC Has $797,000 Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Bleakley Financial Group LLC decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,114 shares of the transportation company’s stock after selling 243 shares during the period. Bleakley Financial Group LLC’s holdings in Landstar System were worth $797,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Landstar System by 0.8% during the first quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company’s stock worth $616,286,000 after buying an additional 31,476 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Landstar System by 0.8% in 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 acquiring an additional 25,366 shares in the last quarter. Morgan Stanley grew its stake in shares of Landstar System by 756.6% in the 4th quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock worth $496,178,000 after acquiring an additional 2,690,326 shares in the last quarter. State Street Corp grew its stake in shares of Landstar System by 4.1% in the 1st quarter. State Street Corp now owns 1,179,816 shares of the transportation company’s stock worth $177,952,000 after acquiring an additional 46,997 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Landstar System by 0.8% in the 1st quarter. JPMorgan Chase & Co. now owns 778,972 shares of the transportation company’s stock worth $139,638,000 after acquiring an additional 5,821 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price for the company in a research note on Wednesday, January 10th. UBS Group upped their target price on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company upped their target price on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Stifel Nicolaus reduced their target price on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a research note on Friday, February 2nd. Finally, Susquehanna reduced their price target on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, March 25th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $184.55.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $178.91 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.40 billion, a PE ratio of 24.34, a P/E/G ratio of 4.78 and a beta of 0.83. Landstar System, Inc. has a twelve month low of $161.13 and a twelve month high of $208.62. The company has a 50-day moving average price of $188.43 and a two-hundred day moving average price of $183.77.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). Landstar System had a net margin of 4.99% and a return on equity of 26.73%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Equities analysts forecast that Landstar System, Inc. will post 6.71 EPS for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, February 9th. Landstar System’s dividend payout ratio is presently 17.96%.

Insider Transactions at Landstar System

In other news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It 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 and less-than-truckload services.