Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Algert Global LLC

Algert Global LLC decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 61.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,715 shares of the transportation company's stock after selling 10,924 shares during the quarter. Algert Global LLC's holdings in Landstar System were worth $1,154,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Roberts Wealth Advisors LLC boosted its stake in Landstar System by 1.3% during the 4th quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company's stock valued at $818,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank lifted its stake in Landstar System by 12.2% in the fourth quarter. Huntington National Bank now owns 1,037 shares of the transportation company's stock valued at $178,000 after purchasing an additional 113 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Landstar System by 1.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,865 shares of the transportation company's stock worth $1,524,000 after purchasing an additional 114 shares during the period. Bessemer Group Inc. increased its holdings in shares of Landstar System by 6.9% in the fourth quarter. Bessemer Group Inc. now owns 2,213 shares of the transportation company's stock worth $380,000 after purchasing an additional 143 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Landstar System in the fourth quarter valued at $25,000. Institutional investors and hedge funds own 97.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus reduced their target price on Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday. Truist Financial dropped their target price on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. TD Cowen dropped their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group decreased their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $153.08.

Landstar System Trading Up 0.5%

Landstar System stock traded up $0.66 during trading hours on Friday, hitting $145.25. The company had a trading volume of 61,099 shares, compared to its average volume of 291,178. The company has a 50-day moving average price of $141.36 and a two-hundred day moving average price of $162.44. The firm has a market cap of $5.08 billion, a P/E ratio of 26.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. On average, sell-side analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 5th. Landstar System's dividend payout ratio is 26.09%.

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.