Adage Capital Partners GP L.L.C. Acquires New Position in Landstar System, Inc. (NASDAQ:LSTR)

Adage Capital Partners GP L.L.C. bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 77,000 shares of the transportation company's stock, valued at approximately $13,233,000. Adage Capital Partners GP L.L.C. owned about 0.22% of Landstar System as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Pinebridge Investments L.P. increased its position in Landstar System by 51.2% during the 4th quarter. Pinebridge Investments L.P. now owns 38,071 shares of the transportation company's stock worth $6,543,000 after purchasing an additional 12,890 shares in the last quarter. Quantessence Capital LLC acquired a new position in shares of Landstar System in the fourth quarter valued at approximately $355,000. Susquehanna International Group LLP lifted its stake in shares of Landstar System by 1,119.5% during the fourth quarter. Susquehanna International Group LLP now owns 19,731 shares of the transportation company's stock valued at $3,391,000 after buying an additional 18,113 shares during the period. Hsbc Holdings PLC boosted its position in Landstar System by 343.6% during the fourth quarter. Hsbc Holdings PLC now owns 27,481 shares of the transportation company's stock worth $4,749,000 after acquiring an additional 21,286 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in Landstar System by 12.7% in the 4th quarter. Stifel Financial Corp now owns 95,899 shares of the transportation company's stock worth $16,481,000 after acquiring an additional 10,779 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial decreased their price objective on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus dropped their price objective on shares of Landstar System from $162.00 to $147.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Susquehanna cut their price objective on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Jefferies Financial Group cut their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, Landstar System has a consensus rating of "Hold" and an average price target of $155.67.

Landstar System Stock Down 0.6 %

LSTR traded down $0.87 on Wednesday, reaching $134.15. The company's stock had a trading volume of 479,572 shares, compared to its average volume of 285,671. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. The business's 50 day moving average is $146.30 and its 200 day moving average is $166.23. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 24.30 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. As a group, research analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

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.