Russell Investments Group Ltd. Reduces Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Russell Investments Group Ltd. reduced its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,911 shares of the transportation company’s stock after selling 8,800 shares during the period. Russell Investments Group Ltd.’s holdings in Landstar System were worth $28,256,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LSTR. Raymond James Financial Services Advisors Inc. lifted its holdings in Landstar System by 1.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,560 shares of the transportation company’s stock worth $630,000 after buying an additional 63 shares during the period. Valley Wealth Managers Inc. lifted its holdings in Landstar System by 5.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,386 shares of the transportation company’s stock worth $245,000 after buying an additional 70 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Landstar System by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 15,707 shares of the transportation company’s stock worth $2,779,000 after buying an additional 80 shares during the period. Nilsine Partners LLC lifted its holdings in Landstar System by 3.3% in the third quarter. Nilsine Partners LLC now owns 2,619 shares of the transportation company’s stock worth $463,000 after buying an additional 84 shares during the period. Finally, Mariner LLC lifted its holdings in Landstar System by 0.9% in the third quarter. Mariner LLC now owns 9,448 shares of the transportation company’s stock worth $1,672,000 after buying an additional 87 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on LSTR. Wells Fargo & Company raised 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 note on Friday, February 2nd. Susquehanna decreased their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Stifel Nicolaus decreased their target price on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a research note on Monday. UBS Group raised their target price on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Finally, Wolfe Research raised 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. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $183.91.

Insiders Place Their Bets

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction that occurred on 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 completion of the sale, the vice president now 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 SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Landstar System Price Performance

Shares of LSTR opened at $172.34 on Thursday. The company has a market capitalization of $6.16 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 4.76 and a beta of 0.86. The company has a quick ratio of 2.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $183.28 and a 200 day moving average of $183.45. Landstar System, Inc. has a twelve month low of $161.13 and a twelve month high of $208.62.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. As a group, equities research analysts anticipate that Landstar System, Inc. will post 6.49 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s dividend payout ratio (DPR) is presently 20.31%.

Landstar System 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.