Corient Private Wealth LLC Grows Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Corient Private Wealth LLC grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1,207.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 293,899 shares of the transportation company’s stock after purchasing an additional 271,417 shares during the period. Corient Private Wealth LLC’s holdings in Landstar System were worth $50,509,000 at the end of the most recent quarter.

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

Landstar System Price Performance

LSTR stock opened at $150.24 on Tuesday. The firm has a market cap of $5.31 billion, a P/E ratio of 27.22 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. Landstar System, Inc. has a 1 year low of $147.59 and a 1 year high of $196.86. The stock has a 50-day simple moving average of $163.43 and a 200-day simple moving average of $175.68.

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%. On average, equities analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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

Wall Street Analysts Forecast Growth

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