Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its stake in Landstar System, Inc. (NASDAQ:LSTR) by 64.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,260 shares of the transportation company’s stock after selling 5,840 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Landstar System were worth $560,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Landstar System by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock valued at $68,494,000 after buying an additional 948 shares in the last quarter. Citigroup Inc. raised its position in shares of Landstar System by 21.2% during the 3rd quarter. Citigroup Inc. now owns 19,184 shares of the transportation company’s stock valued at $3,623,000 after acquiring an additional 3,354 shares in the last quarter. Cerity Partners LLC lifted its stake in Landstar System by 63.4% during the third quarter. Cerity Partners LLC now owns 5,507 shares of the transportation company’s stock worth $1,040,000 after purchasing an additional 2,137 shares during the last quarter. Bank of Montreal Can boosted its holdings in Landstar System by 191.4% in the third quarter. Bank of Montreal Can now owns 25,654 shares of the transportation company’s stock worth $4,796,000 after purchasing an additional 16,850 shares during the period. Finally, FMR LLC increased its stake in Landstar System by 8.6% during the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock valued at $30,639,000 after purchasing an additional 12,894 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 0.9 %

Shares of Landstar System stock opened at $147.37 on Friday. The stock’s fifty day moving average is $159.43 and its 200-day moving average is $173.69. 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 firm has a market capitalization of $5.20 billion, a PE ratio of 26.70 and a beta of 0.82. Landstar System, Inc. has a 12-month low of $144.13 and a 12-month high of $196.86.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (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%. Equities analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s dividend payout ratio (DPR) is presently 26.09%.

Analysts Set New Price Targets

LSTR has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Friday, January 31st. Susquehanna cut 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. Truist Financial assumed coverage on Landstar System in a research note on Thursday, March 13th. They set a “hold” rating and a $160.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. One 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 an average rating of “Hold” and a consensus price target of $166.73.

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.