Corebridge Financial Inc. Trims Position in Landstar System, Inc. (NASDAQ:LSTR)

Corebridge Financial Inc. trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,976 shares of the transportation company’s stock after selling 1,950 shares during the period. Corebridge Financial Inc. owned about 0.11% of Landstar System worth $6,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in LSTR. Verition Fund Management LLC increased its holdings in Landstar System by 28.1% during the 3rd quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after purchasing an additional 12,931 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Landstar System by 419.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock valued at $695,000 after buying an additional 2,973 shares during the period. FMR LLC raised its holdings in shares of Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock valued at $30,639,000 after acquiring an additional 12,894 shares in the last quarter. State Street Corp lifted its stake in 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 acquiring an additional 15,328 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Landstar System by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock worth $2,935,000 after acquiring an additional 3,150 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. Stifel Nicolaus lifted their price target on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Susquehanna decreased their price target on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Truist Financial assumed coverage on shares of Landstar System in a research report on Thursday, March 13th. They issued a “hold” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $166.73.

Landstar System Trading Down 0.9 %

NASDAQ:LSTR opened at $147.37 on Friday. Landstar System, Inc. has a 1 year low of $144.13 and a 1 year high of $196.86. The stock has a market cap of $5.20 billion, a P/E ratio of 26.70 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The stock has a 50-day simple moving average of $159.43 and a 200-day simple moving average of $173.69.

Landstar System (NASDAQ:LSTR) last posted its earnings results 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%. As a group, analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is 26.09%.

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.