Treasurer of the State of North Carolina Reduces Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Treasurer of the State of North Carolina reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,456 shares of the transportation company’s stock after selling 90 shares during the period. Treasurer of the State of North Carolina’s holdings in Landstar System were worth $2,656,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LSTR. Raymond James Financial Inc. acquired a new position in Landstar System during the 4th quarter worth $63,816,000. Norges Bank acquired a new stake in Landstar System during the fourth quarter valued at approximately $54,088,000. Corient Private Wealth LLC lifted its holdings 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 worth $50,509,000 after buying an additional 271,417 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Landstar System in the 4th quarter worth approximately $8,463,000. Finally, Boston Trust Walden Corp increased its holdings in shares of Landstar System by 21.1% in the 4th quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company’s stock valued at $47,695,000 after acquiring an additional 48,312 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LSTR shares. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Monday. Susquehanna lowered their price objective on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Stifel Nicolaus cut their target price on shares of Landstar System from $162.00 to $147.00 and set a “hold” rating on the stock in a report on Monday. Jefferies Financial Group lowered their target price on Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. cut their price target on Landstar System from $177.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One equities research 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $156.92.

Landstar System Stock Performance

LSTR stock opened at $134.28 on Thursday. The company has a market capitalization of $4.69 billion, a P/E ratio of 24.33 and a beta of 0.88. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $150.54 and a 200 day simple moving average of $169.30. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Sell-side analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.36 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.07%. Landstar System’s dividend payout ratio (DPR) is 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.