Nuveen Asset Management LLC Purchases 41,489 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Nuveen Asset Management LLC increased its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 45.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,192 shares of the transportation company's stock after buying an additional 41,489 shares during the period. Nuveen Asset Management LLC owned 0.37% of Landstar System worth $22,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LSTR. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Landstar System by 16.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock worth $646,985,000 after buying an additional 521,695 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Landstar System in the fourth quarter worth $63,816,000. Norges Bank purchased a new stake in shares of Landstar System in the fourth quarter worth $54,088,000. Corient Private Wealth LLC raised 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 in the last quarter. Finally, Lord Abbett & CO. LLC raised its position 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 in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

LSTR has been the topic of a number of research reports. TD Cowen lowered their price target on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Truist Financial cut their target price on Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen cut Landstar System from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Susquehanna cut 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $150.42.

Landstar System Stock Up 0.7%

LSTR stock traded up $0.89 during midday trading on Thursday, hitting $137.80. The company's stock had a trading volume of 37,306 shares, compared to its average volume of 293,553. The company has a market cap of $4.82 billion, a PE ratio of 24.96 and a beta of 0.92. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average is $139.65 and its 200-day moving average is $159.81.

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

Landstar System Increases Dividend

The company also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 1.16%. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 5th. Landstar System's dividend payout ratio is presently 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.