Man Group plc Has $7.38 Million Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Man Group plc boosted its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 42,948 shares of the transportation company's stock after purchasing an additional 2,463 shares during the period. Man Group plc owned about 0.12% of Landstar System worth $7,381,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted 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 valued at $646,985,000 after purchasing an additional 521,695 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Landstar System by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock valued at $278,673,000 after purchasing an additional 11,146 shares during the last quarter. Geode Capital Management LLC lifted its stake in Landstar System by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock valued at $140,602,000 after purchasing an additional 4,392 shares during the last quarter. Northern Trust Corp lifted its stake in Landstar System by 15.6% in the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after purchasing an additional 90,672 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Landstar System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock valued at $106,184,000 after purchasing an additional 9,190 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LSTR shares. Evercore ISI cut their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a research note on Wednesday, May 14th. Benchmark reissued a "hold" rating on shares of Landstar System in a report on Monday, April 14th. Jefferies Financial Group lowered their price target on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target 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. Finally, Truist Financial lowered 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. One equities research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $150.42.

Landstar System Stock Down 0.6%

Shares of LSTR opened at $144.21 on Tuesday. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The firm's 50 day moving average is $141.09 and its 200-day moving average is $161.77. The stock has a market capitalization of $5.04 billion, a PE ratio of 26.13 and a beta of 0.92. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07.

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

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.11%. 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 (DPR) is 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.

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