Man Group plc Grows Position in Landstar System, Inc. (NASDAQ:LSTR)

Man Group plc lifted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,948 shares of the transportation company's stock after acquiring an additional 2,463 shares during the period. Man Group plc owned approximately 0.12% of Landstar System worth $7,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Trust Co. of Vermont bought a new position in shares of Landstar System in the fourth quarter valued at approximately $34,000. Roberts Wealth Advisors LLC boosted its holdings 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 worth $818,000 after acquiring an additional 60 shares during the last quarter. Genesis Private Wealth LLC bought a new stake in shares of Landstar System in the 4th quarter worth $277,000. Nisa Investment Advisors LLC grew its stake in shares of Landstar System by 22.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company's stock worth $2,935,000 after acquiring an additional 3,150 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in shares of Landstar System by 34.7% in the fourth quarter. Wesbanco Bank Inc. now owns 3,890 shares of the transportation company's stock valued at $669,000 after acquiring an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Price Performance

NASDAQ LSTR traded down $1.31 during trading hours on Friday, reaching $137.01. 219,777 shares of the stock traded hands, compared to its average volume of 294,408. The stock has a 50 day simple moving average of $140.25 and a two-hundred day simple moving average of $160.50. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 24.82 and a beta of 0.92.

Landstar System (NASDAQ:LSTR - Get Free Report) last released 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). 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 during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. The business's quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, June 5th. This is a positive change from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio is 31.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LSTR. Truist Financial cut their price target 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. Evercore ISI dropped their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 14th. Jefferies Financial Group reduced their target price on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on Landstar System from $177.00 to $147.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Susquehanna lowered their target price on Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, Landstar System presently has an average rating of "Hold" and an average target price of $150.42.

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.