Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by FORA Capital LLC

FORA Capital LLC trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 63.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555 shares of the transportation company's stock after selling 2,664 shares during the period. FORA Capital LLC's holdings in Landstar System were worth $267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased 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 worth $646,985,000 after buying an additional 521,695 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Landstar System in the 4th quarter worth $63,816,000. Norges Bank purchased a new stake in Landstar System in the 4th quarter worth $54,088,000. Corient Private Wealth LLC increased its stake in Landstar System by 1,207.3% in the 4th 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 grew its position in shares of Landstar System by 116.4% during the fourth 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 in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Susquehanna lowered their price target on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, April 7th. TD Cowen lowered their price target on shares of Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their price target on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company 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 for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $153.08.

Landstar System Price Performance

Shares of Landstar System stock traded up $2.24 during trading hours on Wednesday, reaching $142.45. The stock had a trading volume of 399,728 shares, compared to its average volume of 290,905. The stock's 50 day moving average is $142.07 and its 200 day moving average is $162.84. The firm has a market capitalization of $4.98 billion, a PE ratio of 25.81 and a beta of 0.92. Landstar System, Inc. has a twelve month low of $128.99 and a twelve 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.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $1.15 billion during 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%. Equities analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Landstar System's previous quarterly dividend of $0.36. Landstar System's payout ratio is currently 26.09%.

Landstar System 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.