D. E. Shaw & Co. Inc. Sells 11,518 Shares of Landstar System, Inc. (NASDAQ:LSTR)

D. E. Shaw & Co. Inc. trimmed its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 72.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,363 shares of the transportation company's stock after selling 11,518 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Landstar System were worth $750,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after purchasing an additional 521,695 shares during the period. Raymond James Financial Inc. bought a new position in shares of Landstar System during the 4th quarter valued at $63,816,000. Norges Bank acquired a new stake in shares of Landstar System in the 4th quarter valued at $54,088,000. Corient Private Wealth LLC lifted its position in shares of Landstar System by 1,207.3% in the fourth quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after buying an additional 271,417 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Landstar System by 116.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock worth $47,205,000 after buying an additional 147,756 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on LSTR shares. Susquehanna decreased their price target on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. TD Cowen dropped their price objective on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Evercore ISI reduced their target price on Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday, May 14th. Wall Street Zen lowered shares of Landstar System from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Truist Financial lowered their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $150.42.

Landstar System Stock Up 0.7%

Shares of NASDAQ LSTR traded up $1.00 during trading hours on Thursday, hitting $137.91. The company had a trading volume of 340,367 shares, compared to its average volume of 295,102. The firm's 50 day moving average is $139.40 and its 200-day moving average is $159.44. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The stock has a market capitalization of $4.82 billion, a P/E ratio of 24.98 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is currently 31.68%.

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.