Landstar System, Inc. $LSTR Shares Sold by London Co. of Virginia

Key Points

• London Co. of Virginia trimmed its stake in Landstar System by 3.8% in Q3, selling 9,421 shares and ending the period with 238,905 shares (about 0.70%) valued at roughly $29.28 million.
• Landstar recently paid a quarterly dividend of $0.40 per share (annualized $1.60), representing a 1.1% yield and a dividend payout ratio of 48.34%.
• Shares opened at $148.69 (1‑year range $119.32–$166.11) with a market cap of $5.06 billion; analysts have a consensus rating of Hold and an average price target of $153.00.

London Co. of Virginia lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,905 shares of the transportation company's stock after selling 9,421 shares during the period. London Co. of Virginia owned 0.70% of Landstar System worth $29,281,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC increased its position in Landstar System by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company's stock worth $566,000 after buying an additional 336 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Landstar System by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company's stock valued at $20,729,000 after acquiring an additional 50,142 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Landstar System by 38.3% during the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company's stock valued at $704,000 after acquiring an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Landstar System by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company's stock valued at $21,380,000 after acquiring an additional 16,698 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after purchasing an additional 142 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

Landstar System stock opened at $148.69 on Tuesday. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $166.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50 day moving average price of $153.40 and a 200 day moving average price of $139.30. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 44.92 and a beta of 0.82.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.1%. Landstar System's dividend payout ratio is currently 48.34%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LSTR shares. Benchmark restated a "hold" rating on shares of Landstar System in a report on Thursday, January 29th. Morgan Stanley lifted their price target on shares of Landstar System from $133.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, December 8th. Barclays boosted their price objective on shares of Landstar System from $130.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 15th. Robert W. Baird set a $164.00 target price on shares of Landstar System in a research report on Friday, January 30th. Finally, Weiss Ratings lowered shares of Landstar System from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $153.00.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar's proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.