Landstar System, Inc. $LSTR Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,256,849 shares of the transportation company’s stock after selling 19,978 shares during the period. Vanguard Group Inc. owned 9.48% of Landstar System worth $399,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Cardinal Capital Management raised its holdings in shares of Landstar System by 0.4% in the third quarter. Cardinal Capital Management now owns 24,324 shares of the transportation company’s stock worth $2,981,000 after buying an additional 90 shares during the last quarter. Eukles Asset Management grew its holdings in shares of Landstar System by 1.1% during the second quarter. Eukles Asset Management now owns 10,053 shares of the transportation company’s stock valued at $1,398,000 after buying an additional 105 shares during the last quarter. MAI Capital Management increased its position in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 107 shares during the period. Vident Advisory LLC increased its position in shares of Landstar System by 4.9% in the 2nd quarter. Vident Advisory LLC now owns 2,313 shares of the transportation company’s stock valued at $322,000 after acquiring an additional 107 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Landstar System by 0.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 16,188 shares of the transportation company’s stock worth $2,250,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 9.2%

Shares of LSTR stock opened at $157.58 on Friday. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $165.25. The stock has a market cap of $5.37 billion, a P/E ratio of 47.61 and a beta of 0.85. The stock has a 50 day moving average of $149.75 and a 200 day moving average of $137.19. The company has a current ratio of 1.75, a quick ratio of 2.01 and a debt-to-equity ratio of 0.06.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 18th. Landstar System’s payout ratio is currently 48.34%.

Analyst Ratings Changes

Several research firms have weighed in on LSTR. Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. JPMorgan Chase & Co. lifted their target price on Landstar System from $134.00 to $162.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Susquehanna increased their price target on shares of Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. TD Cowen reissued a “hold” rating on shares of Landstar System in a research report on Friday, January 9th. Finally, Morgan Stanley lifted their price objective on shares of Landstar System from $133.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average price target of $153.00.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.