Russell Investments Group Ltd. Sells 8,800 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Russell Investments Group Ltd. cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,911 shares of the transportation company’s stock after selling 8,800 shares during the period. Russell Investments Group Ltd. owned about 0.41% of Landstar System worth $28,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LSTR. Larson Financial Group LLC bought a new stake in Landstar System during the third quarter worth $49,000. GAMMA Investing LLC bought a new position in shares of Landstar System in the 4th quarter valued at $58,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Landstar System by 126.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 565 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 315 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Landstar System by 17.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 616 shares of the transportation company’s stock valued at $119,000 after acquiring an additional 92 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Landstar System by 18.7% in the 4th quarter. Blue Trust Inc. now owns 755 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 119 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

Shares of Landstar System stock opened at $172.34 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $183.28 and a two-hundred day moving average price of $183.45. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $208.62. The company has a market cap of $6.16 billion, a P/E ratio of 26.51, a PEG ratio of 4.76 and a beta of 0.86.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, analysts anticipate that Landstar System, Inc. will post 6.49 EPS for the current year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.77%. Landstar System’s dividend payout ratio is presently 20.31%.

Analysts Set New Price Targets

A number of research analysts have recently commented on LSTR shares. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target for the company in a research note on Wednesday, January 10th. Susquehanna dropped their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Friday, April 26th. Wells Fargo & Company raised their target price on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus lowered their target price on Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $183.91.

Insider Activity

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the sale, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.