Landstar System, Inc. (NASDAQ:LSTR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 19.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,394,389 shares of the transportation company's stock after acquiring an additional 224,286 shares during the quarter. Victory Capital Management Inc. owned about 3.88% of Landstar System worth $270,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LSTR. Raymond James Financial Services Advisors Inc. raised its position in Landstar System by 1.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,560 shares of the transportation company's stock valued at $630,000 after purchasing an additional 63 shares during the period. Valley Wealth Managers Inc. lifted its position in Landstar System by 5.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,386 shares of the transportation company's stock worth $245,000 after buying an additional 70 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Landstar System by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 15,707 shares of the transportation company's stock worth $2,779,000 after buying an additional 80 shares during the period. Nilsine Partners LLC increased its position in Landstar System by 3.3% during the third quarter. Nilsine Partners LLC now owns 2,619 shares of the transportation company's stock valued at $463,000 after acquiring an additional 84 shares during the last quarter. Finally, Mariner LLC raised its stake in shares of Landstar System by 0.9% in the third quarter. Mariner LLC now owns 9,448 shares of the transportation company's stock valued at $1,672,000 after acquiring an additional 87 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Michael K. Kneller sold 12,219 shares of the company's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the sale, the vice president now directly owns 61,127 shares of the company's stock, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company's stock.

Landstar System Stock Down 1.2 %

Shares of LSTR traded down $2.07 during mid-day trading on Wednesday, hitting $172.34. 330,981 shares of the company traded hands, compared to its average volume of 277,703. The company has a market capitalization of $6.16 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 4.74 and a beta of 0.83. The company has a quick ratio of 2.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $183.65 and a 200 day moving average of $183.53. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $208.62.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.04. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. Equities research analysts anticipate that Landstar System, Inc. will post 6.62 EPS for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, May 7th. Landstar System's payout ratio is 20.31%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LSTR. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a research note on Friday, April 26th. UBS Group boosted their price objective on shares of Landstar System from $175.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. Susquehanna dropped their target price on Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, April 26th. Wolfe Research raised Landstar System from a "peer perform" rating to an "outperform" rating and set a $205.00 price target for the company in a research report on Wednesday, January 10th. Finally, Stifel Nicolaus decreased their price objective on Landstar System from $166.00 to $164.00 and set a "hold" rating for the company in a research note on Monday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $183.91.

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.