31,700 Shares in Landstar System, Inc. (NASDAQ:LSTR) Purchased by Nutshell Asset Management Ltd

Nutshell Asset Management Ltd acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,700 shares of the transportation company’s stock, valued at approximately $5,448,000. Landstar System comprises approximately 3.4% of Nutshell Asset Management Ltd’s holdings, making the stock its 14th largest holding. Nutshell Asset Management Ltd owned about 0.09% of Landstar System as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Landstar System in the fourth quarter worth $25,000. HM Payson & Co. purchased a new position in Landstar System during the 4th quarter valued at about $26,000. Trust Co. of Vermont bought a new stake in shares of Landstar System during the fourth quarter valued at about $34,000. TD Private Client Wealth LLC boosted 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 acquiring an additional 158 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of 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 acquiring an additional 620 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday. Susquehanna lowered their price target on Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. TD Cowen dropped their target price on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday. Truist Financial dropped their price target on Landstar System from $160.00 to $150.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Thursday. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.45.

Landstar System Stock Performance

Shares of LSTR opened at $136.64 on Friday. Landstar System, Inc. has a 52 week low of $132.41 and a 52 week high of $196.86. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.83 billion, a P/E ratio of 24.75 and a beta of 0.82. The business’s 50 day moving average price is $156.41 and its 200-day moving average price is $172.43.

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

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid 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 dividend yield of 1.05%. Landstar System’s dividend payout ratio (DPR) is currently 26.09%.

About Landstar System

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.