Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by London Co. of Virginia

London Co. of Virginia trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,663 shares of the transportation company's stock after selling 3,244 shares during the period. London Co. of Virginia owned 0.70% of Landstar System worth $42,563,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LSTR. Franklin Resources Inc. increased its holdings in Landstar System by 28.1% in the 3rd quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company's stock valued at $11,000,000 after acquiring an additional 12,756 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Landstar System by 1.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,865 shares of the transportation company's stock worth $1,524,000 after purchasing an additional 114 shares during the period. Trust Co. of Vermont bought a new position in shares of Landstar System during the fourth quarter valued at approximately $34,000. Roberts Wealth Advisors LLC grew its position in Landstar System by 1.3% in the 4th quarter. Roberts Wealth Advisors LLC now owns 4,616 shares of the transportation company's stock valued at $818,000 after acquiring an additional 60 shares during the last quarter. Finally, Genesis Private Wealth LLC purchased a new position in Landstar System in the 4th quarter worth about $277,000. Institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LSTR shares. Truist Financial decreased their price objective on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. TD Cowen dropped their target price on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Susquehanna dropped their price target 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, Evercore ISI cut their price objective on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, Landstar System presently has an average rating of "Hold" and a consensus target price of $153.08.

Landstar System Stock Performance

LSTR traded up $2.14 during trading on Thursday, reaching $144.59. 455,552 shares of the company's stock were exchanged, compared to its average volume of 291,946. The company's fifty day simple moving average is $141.36 and its 200-day simple moving average is $162.44. The stock has a market capitalization of $5.05 billion, a P/E ratio of 26.19 and a beta of 0.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86.

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 for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. As a group, research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company 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. This is a positive change from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, June 5th. Landstar System's dividend payout ratio is presently 26.09%.

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.