Landstar System, Inc. (NASDAQ:LSTR) Stake Lessened by Simplicity Solutions LLC

Simplicity Solutions LLC lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,034 shares of the transportation company’s stock after selling 323 shares during the period. Simplicity Solutions LLC’s holdings in Landstar System were worth $781,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of Landstar System by 756.6% during the fourth 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. Norges Bank purchased a new stake in shares of Landstar System during the fourth quarter worth $54,341,000. Renaissance Technologies LLC purchased a new stake in shares of Landstar System during the first quarter worth $26,416,000. Invesco Ltd. raised its holdings in shares of Landstar System by 55.1% during the third quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after acquiring an additional 148,490 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Landstar System by 21.5% during the first quarter. Northern Trust Corp now owns 559,782 shares of the transportation company’s stock worth $84,432,000 after acquiring an additional 98,958 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Landstar System Stock Down 1.2 %

NASDAQ:LSTR opened at $174.13 on Wednesday. The stock’s fifty day moving average price is $188.10 and its two-hundred day moving average price is $183.82. Landstar System, Inc. has a 52-week low of $161.13 and a 52-week high of $208.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 4.65 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.25 billion. On average, analysts anticipate that Landstar System, Inc. will post 6.71 EPS for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors 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 0.76%. The ex-dividend date of this dividend was Friday, February 9th. Landstar System’s dividend payout ratio is currently 17.96%.

Insider Activity at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the 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 completion of the transaction, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Landstar System Company Profile

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.