Allspring Global Investments Holdings LLC Sells 4,687 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Allspring Global Investments Holdings LLC decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 89,556 shares of the transportation company's stock after selling 4,687 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.25% of Landstar System worth $17,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LSTR. Larson Financial Group LLC bought a new position in shares of Landstar System during the 3rd quarter worth $49,000. First Capital Advisors Group LLC. purchased a new stake in Landstar System during the 2nd quarter worth about $59,000. Belpointe Asset Management LLC lifted its holdings in Landstar System by 150.7% during the 1st quarter. Belpointe Asset Management LLC now owns 356 shares of the transportation company's stock worth $64,000 after purchasing an additional 214 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Landstar System by 126.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 565 shares of the transportation company's stock worth $100,000 after purchasing an additional 315 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in Landstar System during the 3rd quarter worth about $108,000. Institutional investors own 97.95% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on LSTR shares. UBS Group raised their price target on Landstar System from $175.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 2nd. Susquehanna decreased their price objective on Landstar System from $170.00 to $165.00 and set a "neutral" rating on the stock in a report on Monday, March 25th. Stifel Nicolaus decreased their price objective on Landstar System from $171.00 to $166.00 and set a "hold" rating on the stock in a report on Friday, February 2nd. Wolfe Research raised Landstar System from a "peer perform" rating to an "outperform" rating and set a $205.00 price objective on the stock in a report on Wednesday, January 10th. Finally, Wells Fargo & Company raised their price objective on Landstar System from $165.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $184.55.

Insider Activity at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the sale, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Landstar System Trading Down 1.5 %

Shares of LSTR stock traded down $2.66 during trading hours on Monday, reaching $176.25. The company's stock had a trading volume of 209,530 shares, compared to its average volume of 267,277. The stock has a market capitalization of $6.30 billion, a P/E ratio of 23.98, a P/E/G ratio of 4.72 and a beta of 0.83. Landstar System, Inc. has a one year low of $161.13 and a one year high of $208.62. The firm's fifty day simple moving average is $188.10 and its 200 day simple moving average is $183.82. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.63 by ($0.01). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.25 billion. Landstar System had a return on equity of 26.73% and a net margin of 4.99%. Equities research analysts expect that Landstar System, Inc. will post 6.71 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $1.32 annualized dividend and a dividend yield of 0.75%. Landstar System's dividend payout ratio is presently 17.96%.

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.