Corient Private Wealth LLC Raises Stake in Landstar System, Inc. (NASDAQ:LSTR)

Corient Private Wealth LLC grew its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1,207.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 293,899 shares of the transportation company’s stock after buying an additional 271,417 shares during the period. Corient Private Wealth LLC owned 0.83% of Landstar System worth $50,509,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LSTR. Golden State Wealth Management LLC acquired a new position in Landstar System in the 4th quarter valued at about $25,000. HM Payson & Co. acquired a new position in shares of Landstar System in the fourth quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new stake in shares of Landstar System during the fourth quarter worth approximately $34,000. TD Private Client Wealth LLC lifted its holdings in shares of Landstar System by 27.9% during the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock worth $137,000 after purchasing an additional 158 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Landstar System by 225.5% in the 4th quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock valued at $154,000 after buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Down 0.1 %

Landstar System stock opened at $150.24 on Tuesday. Landstar System, Inc. has a fifty-two week low of $147.59 and a fifty-two week high of $196.86. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 27.22 and a beta of 0.82. The stock’s fifty day moving average is $163.43 and its two-hundred day moving average is $175.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. Analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Tuesday, February 18th. Landstar System’s payout ratio is currently 26.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LSTR. Truist Financial assumed coverage on shares of Landstar System in a research note on Thursday, March 13th. They issued a “hold” rating and a $160.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Benchmark reissued a “hold” rating on shares of Landstar System in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $169.45.

Landstar System 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.