Swiss National Bank Reduces Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Swiss National Bank lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.1% during the fourth quarter, HoldingsChannel reports. The firm owned 69,700 shares of the transportation company’s stock after selling 100 shares during the period. Swiss National Bank’s holdings in Landstar System were worth $11,979,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Landstar System by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after buying an additional 11,146 shares during the last quarter. State Street Corp increased its stake in shares of Landstar System by 1.4% in the third quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after buying an additional 15,328 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Landstar System by 5.1% in the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock worth $153,685,000 after buying an additional 39,223 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Landstar System by 10.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after buying an additional 41,758 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Landstar System by 4.3% in the fourth quarter. Bank of New York Mellon Corp now owns 389,019 shares of the transportation company’s stock worth $66,857,000 after buying an additional 15,986 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Friday, January 31st. Stifel Nicolaus lifted their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Finally, Truist Financial assumed coverage on shares of Landstar System in a report on Thursday, March 13th. They issued a “hold” rating and a $160.00 price objective for the company. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $169.45.

Landstar System Stock Performance

LSTR stock opened at $146.63 on Friday. The company has a market capitalization of $5.18 billion, a P/E ratio of 26.56 and a beta of 0.82. The company has a 50-day simple moving average of $162.21 and a 200 day simple moving average of $175.05. Landstar System, Inc. has a fifty-two week low of $144.13 and a fifty-two week high of $196.86. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.98%. The ex-dividend date was Tuesday, February 18th. Landstar System’s payout ratio is currently 26.09%.

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.