Cerity Partners LLC Acquires New Shares in Landstar System, Inc. (NASDAQ:LSTR)

Cerity Partners LLC acquired a new position in Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,069 shares of the transportation company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently bought and sold shares of LSTR. Invesco Ltd. boosted its stake in shares of Landstar System by 55.1% during the 3rd 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. Qube Research & Technologies Ltd grew its holdings in Landstar System by 63.3% during the third quarter. Qube Research & Technologies Ltd now owns 205,239 shares of the transportation company’s stock valued at $36,315,000 after purchasing an additional 79,536 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Landstar System by 185.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 94,243 shares of the transportation company’s stock valued at $16,675,000 after purchasing an additional 61,260 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Landstar System by 49.1% in the third quarter. Envestnet Asset Management Inc. now owns 156,879 shares of the transportation company’s stock valued at $27,758,000 after purchasing an additional 51,669 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Landstar System in the third quarter worth $4,681,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LSTR. UBS Group boosted their target price 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. Susquehanna decreased their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday. Stifel Nicolaus dropped their price target on Landstar System from $166.00 to $164.00 and set a “hold” rating on the stock in a research report on Monday. Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $183.91.

Landstar System Trading Down 0.0 %

Shares of Landstar System stock opened at $177.23 on Tuesday. Landstar System, Inc. has a 52-week low of $161.13 and a 52-week high of $208.62. The firm has a market capitalization of $6.34 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 4.69 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00. The company’s fifty day moving average price is $183.99 and its two-hundred day moving average price is $183.53.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. On average, analysts expect that Landstar System, Inc. will post 6.69 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.74%. Landstar System’s payout ratio is presently 20.31%.

Insider Buying and Selling

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.