Vestmark Advisory Solutions Inc. Reduces Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Vestmark Advisory Solutions Inc. cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,849 shares of the transportation company’s stock after selling 278 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Landstar System were worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Victory Capital Management Inc. grew its stake in Landstar System by 19.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock valued at $270,024,000 after acquiring an additional 224,286 shares during the period. Invesco Ltd. boosted its position in shares of Landstar System by 55.1% during the 3rd quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after purchasing an additional 148,490 shares during the period. AQR Capital Management LLC raised its holdings in shares of Landstar System by 2.9% in the 3rd quarter. AQR Capital Management LLC now owns 383,916 shares of the transportation company’s stock valued at $67,930,000 after buying an additional 10,753 shares during the period. Charles Schwab Investment Management Inc. grew its position in Landstar System by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 339,585 shares of the transportation company’s stock valued at $60,086,000 after acquiring an additional 9,846 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Landstar System by 6.3% during the third quarter. Royal Bank of Canada now owns 335,747 shares of the transportation company’s stock worth $59,407,000 after purchasing an additional 19,920 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the transaction, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Landstar System Stock Performance

Shares of NASDAQ LSTR traded up $3.14 during midday trading on Friday, hitting $180.14. 342,746 shares of the company’s stock were exchanged, compared to its average volume of 308,567. 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 company’s 50 day moving average price is $182.64 and its 200 day moving average price is $183.42. Landstar System, Inc. has a 12 month low of $161.13 and a 12 month high of $208.62. The firm has a market capitalization of $6.44 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 4.83 and a beta of 0.86.

Landstar System (NASDAQ:LSTR) last issued its 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 return on equity of 23.11% and a net margin of 4.63%. As a group, analysts predict that Landstar System, Inc. will post 6.49 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s payout ratio is 20.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LSTR shares. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Friday, April 26th. UBS Group lifted their price target on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Susquehanna reduced their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Finally, Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price on the stock in a research report on Wednesday, January 10th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.91.

Landstar System Company 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.