KLP Kapitalforvaltning AS Takes $1.53 Million Position in Landstar System, Inc. (NASDAQ:LSTR)

KLP Kapitalforvaltning AS purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,900 shares of the transportation company’s stock, valued at approximately $1,530,000.

Several other large investors also recently added to or reduced their stakes in the stock. Verition Fund Management LLC boosted its holdings in shares of Landstar System by 28.1% in 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. boosted its stake in 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 worth $695,000 after buying an additional 2,973 shares during the period. FMR LLC increased its position in Landstar System by 8.6% during 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 during the last quarter. State Street Corp raised 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 valued at $211,130,000 after acquiring an additional 15,328 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Landstar System by 22.6% in 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 during the last quarter. 97.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LSTR. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Susquehanna dropped their price objective on Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial initiated coverage on Landstar System in a research note on Thursday, March 13th. They issued a “hold” rating and a $160.00 target price on the stock. Finally, Stifel Nicolaus upped their price target 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. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $166.73.

Landstar System Trading Down 0.9 %

NASDAQ LSTR opened at $147.37 on Friday. Landstar System, Inc. has a one year low of $144.13 and a one year high of $196.86. 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 company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 26.70 and a beta of 0.82. The company’s 50-day simple moving average is $159.43 and its two-hundred day simple moving average is $173.69.

Landstar System (NASDAQ:LSTR) last issued 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%. Equities analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis 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.