Voloridge Investment Management LLC Sells 6,079 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Voloridge Investment Management LLC lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,915 shares of the transportation company's stock after selling 6,079 shares during the period. Voloridge Investment Management LLC owned approximately 0.12% of Landstar System worth $7,547,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Landstar System during the 4th quarter valued at about $63,816,000. Norges Bank purchased a new stake in Landstar System during the 4th quarter valued at about $54,088,000. Corient Private Wealth LLC grew its position in Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock valued at $50,509,000 after purchasing an additional 271,417 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Landstar System by 116.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 274,671 shares of the transportation company's stock valued at $47,205,000 after purchasing an additional 147,756 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Stock Performance

Landstar System stock traded down $0.58 on Friday, reaching $137.34. 117,902 shares of the stock were exchanged, compared to its average volume of 294,433. The stock has a market cap of $4.80 billion, a PE ratio of 24.93 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, Inc. has a twelve month low of $128.99 and a twelve month high of $196.86. The firm has a fifty day moving average price of $139.40 and a two-hundred day moving average price of $159.44.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm 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 business's quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. Sell-side analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Increases Dividend

The business 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 is an increase from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.17%. Landstar System's dividend payout ratio is presently 31.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LSTR shares. UBS Group set a $154.00 price target on shares of Landstar System in a report on Wednesday, May 14th. Wall Street Zen cut shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group cut 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. dropped their target price 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, Stifel Nicolaus dropped their target price on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat, Landstar System presently has a consensus rating of "Hold" and a consensus price target 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.